COLUMBUS: Gov. John Kasich warned on Tuesday the state could be on the brink of a recession after November revenue came in sharply below estimates.
Kasich, a Republican, issued the warning during a rare visit to the Ohio House, where he said the state’s future will be tough.
“We’re on the verge of a recession in our state,” Kasich said.
Kasich’s warning followed new numbers from the state budget office showing November tax receipts were $99 million, or 5 percent less than estimates.
That follows a weak October, with revenues $88 million below estimates.
Kasich will introduce the next two-year budget, his last as governor, early next year.
He also said he wants to leave the budget in good hands for his successor.
Withholding, sales and use taxes are decreasing, according to the Office of Budget and Management.
Budget director Tim Keen has said existing financial cushions will keep the state from going into the red through the current budget.