June 3, 2014

Toledo Blade: Bad budget business

media mention

The progressive advocacy group Policy Matters Ohio worked with the Institution on Taxation and Economic Policy, a nonpartisan organization in Washington, to analyze the Senate bill. They conclude that most of the tax relief in the measure would go to the top 5 percent of Ohioans — those who earned at least $151,000 last year.

If the measure becomes law, the top 1 percent of Ohio taxpayers would get an annual tax cut of $1,846 next year, the study says, while the typical middle-income taxpayer would get a $24 cut and the poorest 20 percent of Ohioans would average a $4 reduction. The Senate bill does not permit the Earned Income Tax Credit to be refunded to poor Ohioans who have little income tax liability.

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