This June 2003 analysis by the Institute on Taxation & Economic Policy reveals that the federal tax changes enacted in May will substantially benefit high-income Ohio taxpayers, while less affluent taxpayers will see small cuts, amounting to as little as $42 over the next four years for the bottom fifth
Policy Matters released Too Much Power, Too Little Oversight, a report on the Ohio’s State Controlling Board, in April 2003. This summary updates that analysis, covering board actions from January to June 2003 – the last half of fiscal year 2003.
CLEVELAND -The writer is research director at Policy Matters Ohio, a nonprofit research institute. His recent report, Too Much Power, Too Little Oversight: Ohio’s State Controlling Board, is available at here. Ask most Ohioans about it, and they’ll probably scratch their heads in puzzlement. Yet if relatively unknown, the State
Though most people do not know it, Ohio’s State Controlling Board affects nearly every Ohio citizen with the sweep of its action. The state legislature sets the appropriations for the budget, but the Controlling Board often issues the final word on how Ohio’s money is spent. Because the board wields
The state and local tax system is stacked against low- and middle income Ohioans. The less you make, the greater the share of your income you have to pay. As upside-down as that may seem, it’s getting worse. So reported a recent study by the Institute on Taxation and Economic
Low- and middle-income Ohio families pay a greater share of their incomes in state and local taxes than the state’s most affluent do, according to a study released today. The top 1 percent of non-elderly Ohio families by income, who earn at least $261,000 a year, pay 9.7 percent of
Amid the corporate scandals capturing headlines this year, another nearly invisible scandal has been battering the state budget. The corporate franchise tax — Ohio’s corporate profits tax — has been withering. In the mid-1970s, the levy accounted for 16 percent of the taxes supporting the state’s main fund for operations,
This October 2002 study finds that corporate tax avoidance and state policy have contributed along with other factors to the weakening of Ohio’s corporate franchise tax. Revenue from the state’s corporate profits tax fell from 16 percent of the taxes supporting Ohio’s General Revenue Fund in the mid-1970’s to 4.6
Zach Schiller’s July 2002 study scrutinizes Ohio Job Creation Tax credits to major food retailers Wal-Mart and Kroger. In 2001, the state of Ohio promised $10 million in tax breaks to Wal-Mart to establish distribution and manufacturing facilities in the state. These incentives were promised despite the fact that proposed
Zach Schiller’s January 2002 study shows that Cleveland’s biomedical industry, five years ago touted by business and development leaders as a growth sector ripe for area investment, has taken a less-than-impressive hold in the local economy. Using updated industry figures, the study finds that despite commercial biomedical industry growth in
Only a few years ago, Gliatech Inc. was one of Northeast Ohio’s best known commercial hopes in the growing biotechnology industry. Now, it’s broke. The failure of this small company, which sold a gel used to prevent scarring after back surgery, was quickly dismissed by leaders of efforts to build
The Ohio Controlling Board Needs Control
Ask most Ohioans about it, and they ll probably scratch their heads in puzzlement. Yet if relatively unknown, the State Controlling Board is a powerful force in the statehouse, affecting most citizens with its decisions. During budget squeezes such as we are experiencing now, its role grows even larger. Every