Overview

• DeWine signed a two-year, $60 billion budget that enacts a phased 2.75 percent flat income tax rate and implements most of the Fair School Funding formula.
• He issued 67 line-item vetoes stripping measures that would have capped district reserve balances at 40 percent and barred emergency and fixed-sum levies to curb property tax growth.
• The budget allocates $8.15 billion in FY 2026 and $8.26 billion in FY 2027 under the funding formula, but the Ohio Education Association warns of a $2 billion shortfall due to outdated cost inputs.
• Senate President Rob McColley and Finance Chair Jerry Cirino said the vetoes undermine property tax growth controls, local accountability and levy transparency.
• DeWine will convene a working group in the coming weeks to develop balanced property tax relief proposals while preserving stable school funding.