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News: 2/8/13

Gov. Kasich announces new Ohio two-year budget plan

A tax code overhaul, education revamp and gas and oil taxes are all a part of Gov. John Kasich’s two-year budget proposal, announced on Monday. The plan would overhaul Ohio’s tax structure by slashing income taxes for individuals and most small businesses. It would also lower the sales tax while extending it to services that now go untaxed. The $63.3 billion plan, dubbed “Ohio’s Jobs Budget 2.0,” includes full Medicaid expansion, in addition to taxes on oil and gas drillers and support for the education funding announced last week. Kasich’s plan calls for 50 percent income tax decrease for nearly every small business over the next two years, and a 20 percent cut for individuals over the next three years.

Source: Cleveland.com

President Obama calls for short-term fix to looming spending cuts

On Tuesday afternoon, President Barack Obama called for a short-term agreement to put off deep cuts to government spending, including military funds, set to take effect next month. The president urged Congress to pass a measure, known as sequestration, which would delay the imminent cuts that were a part of the 2011 debt ceiling deal. Obama called for a balanced approach, wanting additional revenue in combination with spending cuts. Republicans had earlier slammed the president for failing to propose a budget the day before. The government had already delayed these spending cuts two months.

Source: CNN.com

Remains of English king found under a parking lot

DNA testing of human remains found under an English parking lot revealed that they are those of King Richard III. The skeleton was uncovered during an archeological dig in August. Mitochondrial DNA was extracted from the bones and then matched with a direct descendant of Richard III’s sister, as well as a more distant relative.

His feet were not found, but the rest of the bones remained well preserved. Archeologists found evidence of a violent death for the king, including eight wounds to the head and two to the body that are believed to ultimately be the cause of death.

Source: CNN.com

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