It has been announced on May 5 that Ohio is facing a budget deficiency close to $776.9 million.
Gov. Mike DeWine says that, in order to meet that gap, there will be $775 million worth of cuts in order to balance that budget.
From WEWS News 5 Cleveland:
“Decisions like this are certainly very difficult and unpleasant,” DeWine said. “But they are part of my responsibilities as your governor to make.”
The cuts will be made for the next two months.
Among the reduction in spending take include:
- Medicaid spending ($210 million)
- K-12 Foundation payment ($300 million)
- Several education line items ($55 million)
- Higher education funding ($110 million)
- Slashes to other agencies ($100 million)
All of the Ohio agencies, with the exception of the Department of Rehabilitation and Corrections, have been “taking cuts, including the governor’s office,” and have also been on a hiring freeze since late March.
Gov. DeWine has also announced he will be using the state’s “Rainy Day Fund” during the next difficult period. It will, however, have to be used at one point.
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Article Courtesy of WEWS News 5 Cleveland
First and Second Picture Courtesy of Justin Merriman and Getty Images