income
Senate Republicans seek to eliminate Ohio’s income tax over 10 years
Eight Senate Republicans introduced legislation Tuesday seeking to zero out Ohio’s income tax by the year 2032. If passed, Ohio would become the 10th state nationally without an income tax, which was first levied in 1972. In fiscal year 2020, personal income taxes were the state’s No. 2 tax revenue source, driving in $8.3 billion, […]
Wealthy state lawmakers to gain from income tax cuts in budget
Some of the wealthiest state lawmakers stand to save thousands of dollars annually on their taxes thanks to changes they enacted in the state budget. Lawmakers lowered tax rates for all income earners and raised the minimum threshold at which Ohioans pay taxes on their income. They also eliminated the top bracket (previously $221,300 and […]
As state budget shortfall looms, Senate GOP seeks to tie down income tax rates
Facing a $1 billion coronavirus-shaped budget hole, an Ohio Senate committee passed a bill Tuesday to amend the state constitution to require a supermajority of lawmakers to agree on an income tax increase instead of a simple majority. Senate Joint Resolution 3, which itself would require supermajority votes in the House (66 of 99) and […]
Senate GOP seeks to anchor down historic low income tax rates
Senate Republicans are pushing a constitutional change to make it significantly harder to raise income tax rates, which are at their lowest points since Ronald Reagan was president. The Senate Ways and Means Committee held its first hearing on Senate Joint Resolution 3 on Tuesday, which would require a supermajority vote in both the state […]