Nearly 100,000 jobless Ohioans will exhaust their unemployment benefits this month if action is not taken to extend them. The U.S. House of Representatives approved an extension before its Memorial Day break; the Senate should vote to do so immediately after returning June 7. … Press Release
Ohio’s unemployment compensation trust fund is broke and owes more than $2 billion to the federal government. Unemployment compensation is funded by payroll taxes paid by employers and these taxes are expected to rise when needed to pay for higher benefit levels. Yet most rates in the Ohio unemployment rate
Seventeen states are using a creative approach to helping employers and workers weather bad times. These programs, which allow the payment of unemployment benefits to workers at employers that shorten workweeks instead of laying off staff, can benefit Ohio workers and the companies that employ them in several ways. Employers
UC is a crucial support for jobless Ohioans that also helps stimulate the economy. Last year, more than half a million Ohioans – an average of close to 200,000 people a week — received unemployment compensation. With jobless spells lasting longer, nearly 250,000 remained on state benefits so long that
Policy Matters Ohio Testifies before House Ways & Means Committee on House Bill 400 Amy Hanauer, Executive Director for Policy Matters Ohio, testified Wednesday, Feb. 24 before the Ohio House Ways and Means Committee about Ohio House Bill 400. Her testimony outlines the effect of repealing the state income tax
Funding for enforcement of Ohio’s minimum wage law will be eliminated starting in July under the budget approved by the General Assembly last July. A modest amount — $150,000 ??” is budgeted for continuing enforcement of the prevailing wage law next fiscal year, which like the minimum wage is also
This state-by-state report from the Institute on Taxation and Economic Policy analyzes how much of a share different income groups pay in state and local taxes. Updating a 1996 report, this edition shows the distributional impact of state and local tax systems in 2002, and how the regressivity of these
In order to balance the Ohio state budget, Gov. Ted Strickland has proposed temporarily restoring the last year of a five-year, 21 percent income-tax cut approved in 2005. This October 2009 report examines the effects of implementing the governor’s proposal together with two other measures that would raise income-tax rates
Ohio’s broad state tax on business — the Commercial Activity Tax (CAT) — has now gone into full effect. Unfortunately, like Ohio’s other major state taxes, the CAT is not holding up in the poor economy. Created in 2005 as a replacement for the state’s corporate income tax and a
The federal stimulus act is paying extended or extra unemployment compensation benefits to hundreds of thousands of Ohioans and adding $30 million to the state economy each week. At the same time, it also is saving money for the state and Ohio’s employers. This report details the ways in which
By Zach SchillerFriday, June 26, 2009 Cleveland Plain Dealer Four years ago, the Ohio General Assembly ap proved the biggest overhaul of Ohio’s tax system in a generation. The income tax and business taxes were slashed in overall tax cuts worth more than $2 billion a year. The idea was
10 Ways to reform the state budget
2 opinions on 10 ways to reform the state budget (part 1) 1. Restore the 7.5 percent state income-tax rate on income over $200,000 (it’s now 5.925 percent). Savings: $940 million* 2. Return other income-tax rates to 2007 levels, before the last two years of rate cuts. Savings: $1.38 billion**