Last week the Ohio House Ways and Means Committee passed HB 626, which would accelerate the personal income tax cuts that were a part of H.B. 66, out of committee and sent it to the House floor for a vote after the November election. The effect of the legislation is to deprive the next Governor and Legislature of $765 million in revenue during the SFY 2008-2009 state budget. All members of the committee who were present voted to report the bill out except for State Representative Mike Skindell (D-Lakewood). Proponents argued that growth in state revenue and savings from the newly adopted state appropriation limitation would more than make up for the lost revenue. Unfortunately neither of the arguments appear to based on anything more than a hunch. If this legislation is passed by the House and the Senate it will make an already difficult budget much more difficult for Ohio's new Governor and legislature.