Since the 21-percent reduction in state income taxes approved in 2005, Ohio’s economy has underperformed the nation. There is little reason to believe that another round of income-tax cuts will produce a different result.
Full report Executive Summary An Ohio sales-tax credit based on one in New Mexico would benefit hundreds of thousands of Ohioans, according to a report released today by Policy Matters Ohio. These credits, which five states currently offer, provide a set amount for each member of a family to offset
Most qualifying taxpayers don’t employ anyone besides themselves, and are unlikely to hire new workers because they get a tax cut; most who own businesses and have employees will get too little in tax savings to add workers.
The governor’s proposal to reduce the income tax through a 20 percent rate cut and the exclusion of half of business income from the tax will make the state’s tax system less fair, providing a far larger benefit to upper-income Ohioans than to middle-income or low-income Ohioans. At the same
Lower- and middle-income Ohioans already pay more of their income in state and local taxes than upper-income Ohioans do. While broadening the sales tax is a smart idea, it needs to be accompanied by measures to reduce or eliminate the impact on low- and moderate-income Ohioans.
As policymakers consider how to respond to this issue, they should bear in mind that Ohio’s earnings requirement excludes many workers. The fairest standard links eligibility to hours worked rather than to a minimum dollar amount.
A major effort to overhaul Ohio’s municipal income tax should reduce tax avoidance, guarantee a broad tax base, and ensure that those most able to pay are in fact doing so. When this issue is taken up in the next General Assembly, legislators should address those objectives.
The committee should reject House Bill 510 in its current form, or make significant changes that will align with the original attempt by the Kasich administration to cut tax loopholes – but without cutting rates on big banks. For immediate release Contact: Zach Schiller, 216.272.9072Download memo To: Members of the
If Congress does not act by December 29, federal benefits will be cut off that have for four years sustained aid to jobless workers in Ohio and across the nation.
While any new revenue is a welcome addition to strained local budgets in Ohio, casino taxes won’t come close to making up for the cuts the state has imposed on local governments and schools.
It doesn’t make sense for the General Assembly to be carving out exceptions in the tax code at a time when schools and local governments have seen their funding slashed, and human service programs are struggling.
Kasich’s tax plan rewards rich, starves public services
GOV. John Kasich proposes a major revamp of Ohio’s tax system, cutting income taxes and broadening the sales tax. His plan would transfer wealth from our state’s poor and middle class to those who are well off. It would tilt the state and local tax systems in favor of Ohio’s