A new study of tax rates shows that Gov. Kasich’s proposed tax on gas wells will leave Ohio with the lowest taxation rate of any major shale state in the country. Under the law, Ohioans will be receiving less, while giving away more of their rights to the gas industry, all for the blessing of welcoming a toxic industry into the state.
The fracking industry takes a heavy toll on taxpayers. Whether from road damage caused by dramatically increased truck traffic, public health risks from fracking chemicals, or dealing with the aftermath of climate change fueled weather disasters – the industry imposes substantial costs on Ohioans. The Governor’s meager tax will cover only a small portion of these costs, potentially making fracking revenue negative for the state overall.
Despite this, the industry has raised objections to even this small tax. Further giveaways are unacceptable – If covering the costs of fracking makes it financially infeasible, that is perhaps the strongest argument for ending the practice entirely.
Read more about the study here: http://www.ohio.com/blogs/drilling/ohio-utica-shale-1.291290/new-study-says-ohio-tax-rates-would-still-be-lowest-1.307447