Ohio: Progress Through Tax Reform
- Feb 21, 2013 | Gail Cole
Ohio Governor John Kasich (R) began his 2013 State of the State Address on a positive note. He talked of how Ohio's rainy day fund has gone from $0.89 to $1.9 billion since he first took office. He spoke of jobs, noting that Ohio is leading the Midwest in job creation, and number six in the country as a whole. He seemed pleased, but he cautioned against resting "on our laurels."
He then went on to say that "Ohio's taxes are too high." His solution?
- Lower the sales tax from 5.5% to 5%;
- Broaden the sales tax base to include numerous services;
- Cut corporate income taxes in half;
- Cut personal income taxes by 20% over the next three years; and
- Modernize severance tax.
It remains to be seen whether or not the governor's proposed budget will gain traction with state lawmakers.
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