Almost every day, we're seeing evidence of Ohio's progress in strengthening our economy and creating new jobs. Ohio is getting back on track, but we've got more work to do. The budget I've signed into law keeps our foot on the accelerator by tackling key reforms to help us create long-lasting economic growth. Now is not the time to rest on our laurels. Ohio needs to continue to innovate and implement big ideas to further drive economic growth and make our state a better place to work, live and raise a family. I'm proud that this budget helps us achieve those goals.
Significant tax reforms that mean a $2.7 billion net tax cut to make Ohio more competitive, including a 10-percent personal income tax cut over the next three years and a 50 percent small-business tax deduction on the first $250,000 of net income;
A new funding formula for Ohio's schools that delivers more than $1.5 billion in new money to help create a world-class education system in grades K-12, one that accelerates learning while fairly and equitably funding first-rate educational opportunities for students;
Reforming funding for Ohio's public colleges and universities to reward improved graduation rates and develop Ohio's workforce to make our state a more desirable place for job creators to expand or relocate and help our economy;
An additional $3 billion in new federal, state and local highway funds to meet Ohio's pressing transportation needs - a crucial factor for a growing economy - all made possible without a tax increase by our plan to leverage the value of the Ohio Turnpike.
We've got a long way to go, but with your help we can keep moving Ohio ahead.