Policy Matters Ohio: Kasich Budget Shifts Taxes Again
ITEP Work in ActionNew analysis for Policy Matters Ohio by the Institute on Taxation & Economic Policy, a national nonprofit research institute with a sophisticated model of the state and local tax system, shows the governor’s tax plan raises taxes for many Ohioans. It reduces state income tax rates and cuts the number of brackets from nine to five. On average, Ohioans who made between $36,000 and $56,000 last year would pay $44 more a year. Those who made less than $21,000 would pay $64 more. The top 1 percent of earners who made more than $457,000 would get an average cut of $2,412.