Today Gov. John R. Kasich released the following statement in response to passage of House Bill 510 (Amstutz) by the House of Representatives:
"Ohio's banks are on the frontlines of the efforts to get folks back on their financial feet. They're often the first place that families turn for the home loans, small business loans and everyday banking services that are steps in the journey toward the American dream. With the help and support of Rep. Amstutz and Chairman Beck, we're simplifying the tax structure by eliminating two entire classes of taxes and replacing them with one uniform tax system. By closing loopholes to help ensure that financial institutions are paying all the taxes that they owe, we're able to lower rates for all banks while remaining revenue neutral. As Ohio continues its recovery, families only benefit from anything that helps our economy and financial system operate more efficiently, with less red tape and with more accountability. This bill does that and I look forward to quickly signing it into law."