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Demetriou Supports State Budget

Building a foundation for our future
July 14, 2023
Steve Demetriou News

COLUMBUS – The Ohio House of Representatives recently passed the biennium state budget with the support of State Representative Steve Demetriou (R-Bainbridge Twp.). The landmark legislation provides billions in investments that will build a foundation for the state's future. 

The budget, which includes the operating cost of state organizations, also included a significant focus on education. Along with funding public education, the budget makes a landmark investment in school choice with a universal voucher program. This program is designed to safeguard lower-income families and offers options beyond traditional public schools. By expanding access to vouchers, Ohio ensures parents can make the best decisions for their children's education.

"The operating budget included some meaningful wins for Ohio families, especially with it including universal school choice,” said Demetriou. “Expanded educational vouchers will ensure that every kid in Ohio can get an education that is best for them."

Demetriou’s legislation to adjust homestead exemptions to match inflation costs also made its way into the state budget. This adjustment will help Ohio seniors and totally disabled veterans save money by giving them a property tax credit that will match the rise in inflation using the national gross domestic product index.

“Another win in the budget for Ohioans, especially seniors and disabled veterans, is House Bill 57, which I introduced with State Representative Thomas Hall,” Demetriou added. “This important legislation pegs[SD1]  the homestead exemption to inflation. This will ensure that seniors and disabled veterans who are eligible for the homestead exemption will not get priced out of their homes."

The GDP index steadily increased in 2021 and 2022 causing concern for those living on a fixed income. Demetriou’s legislation will enhance exemption amounts to the index to help decrease the inflationary risk for seniors and totally disabled veterans.

Demetriou also voted to help lower and simplify Ohio’s taxes by reducing taxable brackets to two. Under this new system, individuals earning between $26,050 and $100,000 will benefit from an income tax rate of 2.75%. Meanwhile, those earning above $100,000 will have a flattened rate of 3.5%. These reductions will alleviate the burden on hardworking Ohioans while stimulating economic growth and promoting financial well-being across the state.