Akron Beacon Journal: A $1 Billion State Tax Break Still Worth Shrinking

What does the House propose? It would reduce the exemption to the first $100,000 in “pass through” income and wipe out the special 3 percent tax rate. That would save $528 million a year. It would do so without affecting 86 percent of those claiming the exemption. Who would see a change? Policy Matters Ohio and the Institute on Taxation and Economic Policy calculate that four-fifths of the tax increase would be paid by the top 1 percent, those with incomes of $496,000 a year and above. Virtually all of the increase would be paid by the top 5 percent. Read more