Ohio Senate Finance Committee Unveils 2026-27 Budget with Focus on Brook Park Project Funding
The Ohio Senate Finance Committee is set to unveil its substitute bill for the 2026-27 biennial budget this afternoon. This budget will outline the state's spending for the next two years, with a particular focus on funding the proposed Brook Park project. The Ohio House previously approved a plan to use $600 million in state bonds as a loan for the project, which would be repaid over 25 years using new tax revenue generated by the project. The Senate now has the opportunity to either adopt this plan or propose an alternative approach.
Various options are being considered to raise additional revenue for the budget. One option is to legalize iGaming, allowing gambling on digital platforms such as phones for casino games like slots, blackjack, and poker. Another proposal is to implement a new 2% tax on sports bets placed through companies like FanDuel and DraftKings. These revenue-generating measures will play a crucial role in shaping the final budget plan.
The Senate Finance Committee will officially receive the substitute bill at 2:30 p.m. today, followed by a news conference to discuss the details of the proposed budget. Stay tuned for updates on how the Senate plans to address funding for the Brook Park project and other key initiatives in the budget.