Thursday, March 5, 2009

Ohio Legislature OKs plan to sell bonds to pay cash bonuses for veterans of Middle East wars

Ohio Legislature OKs plan to sell bonds to pay cash bonuses for veterans of Middle East wars

By STEPHEN MAJORS | Associated Press Writer
3:39 PM CST, March 3, 2009
COLUMBUS, Ohio (AP) — The Ohio Legislature has given final approval to borrowing $200 million to pay cash bonuses to veterans of the Persian Gulf, Afghanistan and Iraq wars.

The Ohio House voted 92-3 to approve the plan Tuesday. The Senate approved it last month. Voters must still support it in November because it would increase the state's debt.

Veterans would get $100 for every month they served to up a total of $1,000.

Ohio Gov. Ted Strickland vetoed a similar bill last year but is expected to sign this version because it raises money by selling bonds instead of tapping the state's rainy-day fund.



The governor wants to use nearly all of the $1 billion rainy-day fund to help pay for the next two-year budget. Ohio faces a $7 billion budget deficit.

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