
June 30, 2015
The nonpartisan Institute on Taxation and Economic Policy estimates that the new budget gives the top 1 percent of Ohio taxpayers — those whose annual incomes exceed $1 million — a tax cut of more than $10,000 a year. They get half the total tax relief. By contrast, the poorest 40 percent of Ohio households, […]
June 29, 2015
Flanked by two men who were not enamored of some of his highest-profile initiatives, Kasich praised Ohio’s new $71.2 billion, two-year budget as “good stuff” on Friday. The latest analysis from the Institute on Taxation and Economic Policy says the tax package will provide an average annual tax cut of $10,236 for the top 1 […]
June 23, 2015
The Senate budget bill approved Thursday, like the House-approved version, would create a tax policy study commission to review the state’s tax structure. But the Senate would require the study commission to make recommendations “on how to transition Ohio’s personal income tax to a flat tax of three and one-half percent or three and three-quarters […]
June 22, 2015
But Senate Republicans did add an extra income tax cut for about 1 million business owners. They wouldn’t have to pay income taxes on their first $250,000 in profits and would pay a 3-percent tax on income above that. Senators also added a 40-cent increase on a pack of cigarettes and increased taxes on other […]
June 22, 2015
The three budget plans are competing to see which can offer the biggest, most unnecessary, and most unfair tax cut. The $71.3 billion budget bill approved this week by the Senate includes $1.7 billion in net income tax reductions for individuals and small businesses — more than the House budget provides, but less than Governor […]
June 15, 2015
The report by the Institute on Taxation and Economic Policy on behalf of liberal research group Policy Matters Ohio estimates that the lowest 40 percent of Ohio income earners would see an average tax increase of about $20, although that number would fluctuate depending on whether someone smokes. Read more
June 9, 2015
“If you ask its advocates why it’s a good idea, one of the first things they’ll say is it’s a simpler way to tax,” said Matt Gardner, executive director of the Institute on Taxation and Economic Policy, a left-leaning nonprofit organization in Washington. “I think that’s largely an illusion. “Any move to a flat tax […]
June 9, 2015
Some states, however, have decided not to wait for the federal government to make the change. So far, 10 states have taken their own limited steps to expand the number of retailers that must collect sales taxes, according to the Institute on Taxation and Economic Policy. New York was first, enacting legislation in 2008 requiring […]
June 9, 2015
“If you ask its advocates why it’s a good idea, one of the first things they’ll say is it’s a simpler way to tax,” said Matt Gardner, executive director of the Institute on Taxation and Economic Policy, a left-leaning non-profit organization in Washington. “I think that’s largely an illusion.” “Any move to a flat tax […]
May 28, 2015
However, Carl Davis, a senior analyst at the Institute on Taxation and Economic Policy, a nonprofit nonpartisan Washington think tank, said that while tax holidays help retailers, they don’t accomplish much else. “I think the major takeaway with sales tax holidays is they’re high profile and they get a lot of favorable attention for politicians, […]
May 7, 2015
Big income tax cuts did not improve the economies of states that enacted them, and states without income taxes do not consistently grow more jobs or have stronger economies. Six states cut income taxes sharply from 2002 to 2007, before the most recent recession. Three of them – Arizona, Ohio and Rhode Island – grew […]
May 6, 2015
Calling it a “gift to Ohio’s wealthiest,” liberal-leaning Policy Matters released an analysis by the Institute on Taxation and Economic Policy of the tax plan that passed the House last month. It found that the top 1 percent of Ohio earners would save nearly $3,600 on average, while the bottom 80 percent of Ohio taxpayers, […]
April 29, 2015
Gov. Kasich’s Mid-Biennium Review proposal to expand the credit from 5 percent to 15 percent is a step in the right direction, but more must be done to ensure the credit benefits Ohio’s poorest working families. Read the full report
April 29, 2015
After the General Assembly raised the top income-tax rate to 7.5 percent in 1992 the state generated more than 100,000 jobs in each of the following three years. Compare that with the 25,600 jobs Ohio gained during 2013, the 40,300 in 2012, and the 77,600 in 2011. Tax levels are not the main thing driving […]
April 15, 2015 • By Matthew Gardner, Meg Wiehe
This report was updated February 2016 Read as a PDF. (Includes Full Appendix of State-by-State Data) Report Landing Page In the public debates over federal immigration reform, sufficient and accurate information about the tax contributions of undocumented immigrants is often lacking. The reality is the 11.4 million undocumented immigrants living in the United States pay billions […]
April 14, 2015
Ohio has pursued an increasingly regressive tax system in recent years, and Governor Kasich’s proposed new tax plan would continue that trend. Through a combination of income tax cuts and increases in the state sales tax and other taxes, the plan would increase the tax liability of Ohio households in the bottom 60 percent of […]
April 10, 2015
Ohio has the 18th most unfair tax system in the nation, according to the Institute on Taxation and Economic Policy. The federal EITC was, in part, designed to eliminate some of the disproportionate impact of payroll taxes on low- and middle-income working families. Likewise, the state credit should address the disproportionate impact of sales and […]
March 12, 2015
“An analysis by the Institute on Taxation and Economic Policy, a nonprofit research group in Washington, D.C., found the bottom three-fifths of Ohioans would pay more as a group under the governor’s plan, which includes a sales-tax rate increase. Most of the increases like the sales-tax hike would fall more heavily on those with low […]
March 2, 2015
But Policy Matters says that figure does not include all taxes being raised, including the commercial-activity tax on gross receipts. Using figures calculated by the Institute on Taxation and Economic Policy, the Cleveland research group estimates that the latest proposed tax changes would leave the bottom 60 percent of earners, on average, paying more in […]
March 2, 2015
Here are some facts and figures about Ohio’s lopsided income distribution and tax burdens, gleaned from Mr. Herzenberg’s study and separate new reports by the nonpartisan Institute on Taxation and Economic Policy and the Economic Policy Institute: You’re part of Ohio’s 1 percent if you make more than $356,000 a year. The average annual income […]
February 27, 2015
Yet an analysis of his tax proposal by the nonpartisan Institute on Taxation and Economic Policy concludes that the wealthiest 1 percent of Ohio taxpayers — those who made more than $388,000 last year — would get an average tax cut of $11,906 a year from the governor’s plan. By contrast, the lowest 60 percent […]
February 18, 2015
Those were the findings of a just-released report by Policy Matters Ohio and the Institute on Taxation and Economic Policy (see http://www.policymattersohio.org/kasich-tax-proposal-feb2015). It also found that even excluding changes in tobacco taxes in Kasich’s proposal, taxpayers making less than $37,000 a year – those in the bottom two-fifths of the income spectrum – on average […]
February 18, 2015
An evaluation of the proposal by the Washington-based Institute on Taxation and Economic Policy, requested by Policy Matters, suggests the top 1 percent of Ohio earners, those making $388,000 or more, will see an average tax cut of $11,906. Those earning less than $58,000 a year would see a net hike of $116 on average, […]
February 12, 2015
The Institute on Taxation and Economic Policy performed an analysis of the governor’s tax plan for Policy Matters Ohio. Released on Tuesday, the evaluation reveals how the overall impact would shift the tax system further in favor of wealthier Ohioans, or the top 5 percent. The top 1 percent would enjoy relief of an average […]
February 11, 2015
Some of that gap is attributed to the governor’s plan to impose a $1-a-pack increase on the state cigarette tax. But even removing that from the table, taxpayers in the bottom 40 percent – $37,000 a year or less — still would see no tax benefits as a whole from Kasich’s proposal, according to an […]