Giving Ohioans A Break on Taxes
Things are picking up for state government in Ohio and, fortunately, legislators of both parties seem to agree some of the wealth ought to be shared with Buckeye State taxpayers.
State House of Representatives members already have approved a budget calling for a 6.6% tax cut. Now, state senators are going them one better, with an 8% reduction plan.
Republican leaders in the Senate want a budget that would eliminate the bottom two income tax brackets, giving help to Ohioans who need it most. In addition, it would cut income taxes by 8% for those in other brackets.
In order to keep the state’s economy moving forward, the plan also would reduce some business taxes. All in all, Ohioans would keep more than $600 million a year in their pockets instead of sending it to Columbus.
What’s not to like about that?
Nothing, except, perhaps for some minor details, Democrat leaders seem to be indicating.
Sweetening the plan is a proposal to provide another $675 million in the two-year budget for schools. Gov. Mike DeWine envisions an education budget that should be good for East Ohio schools, as well as others in the state.
State government revenue has been better than expected — $377 million over income tax projections in April alone — so it appears the tax relief can be provided along with some augmentation of state programs such as those aimed at improving water quality.
It has been pointed out that the devil is in the details. They should not be permitted to derail the Senate plan.