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Thursday, July 31st, 2014
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Wednesday, 09 July 2014 10:22

Policy group: tax changes benefit wealthy Ohioans most

Written by  Ohio News Connection
PHOTO: A new report examines the major tax changes in Ohio’s recently approved budget bill and finds the most affluent will benefit the most. PHOTO: A new report examines the major tax changes in Ohio’s recently approved budget bill and finds the most affluent will benefit the most. Photo credit: Jane M. Sawyer

Review shows low earners will see average of $4 tax savings

COLUMBUS, Ohio -- A new report from a liberal policy group says the major tax changes in the state’s recently-approved budget bill will benefit wealthy Ohioans the most.

Four income-tax cut provisions included in the mid-term budget will accelerate the lower income tax approved last year, expand tax breaks for business income, increase personal exemptions, and boost the state Earned Income Tax Credit. Report author Zach Schiller of Policy Matters Ohio says the cuts total more than $400 million, most of which will go to the wealthiest Ohioans:



Schiller says he believes state leaders should restore and expand funding to local governments, schools, and health and human services, all of which he says would improve communities and create opportunities for business.

He added that cutting the income tax does little for the poorest Ohioans because they don't have much income-tax liability to begin with.

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