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Wed June 13, 2012
Kasich fights for severance tax on Ohio's oil and gas industry
Ohio's oil and gas industry says the policy debate over fracking will likely continue even with the new drilling rules signed this week by governor John Kasich. The governor still wants to impose a severance tax on the industry to fund an income tax cut. Majority Republicans in the state legislature removed that plan from Kasich's budget bill, but the governor is convinced it will happen.
"The legislature now, they want to spend some time spending more time looking at how it compares to other states. I've met with a number of the companies. I see the companies coming our way as well and it'll get done. Now, I've pressed them pretty hard on this. They've asked me if they could have some space on this and they're my colleagues and we'll get there. It's really just a matter of time and it's a matter of them being able to be comfortable with this." said Kasich.
The Ohio Oil and Gas Association's Tom Stewart calls the tax legally questionable.