June 22, 2015

Toledo Blade: Race to Budget Bottom

media mention

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 Kasich seeks.

The Senate bill would provide an average tax cut of more than $10,000 a year for the richest 1 percent of Ohio taxpayers — who made at least $388,000 last year — according to an analysis by the nonpartisan Institute on Taxation and Economic Policy. But the poorest 20 percent of state taxpayers would face higher taxes.

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