tax cuts
States criticized for spending federal relief funds on tax cuts, prisons
As states plan how they’ll spend the $25 billion remaining in federal COVID relief funds, some also are facing criticism and renewed scrutiny over how they allocated money already received from the American Rescue Plan Act. Of the $198 billion authorized by Congress in 2021, $173 billion already has been appropriated by states, the District […]
Disabled veterans in Ohio would get tax break under proposed bill
The following article was originally published on News5Cleveland.com and is published in the Ohio Capital Journal under a content-sharing agreement. Unlike other OCJ articles, it is not available for free republication by other news outlets as it is owned by WEWS in Cleveland. A proposed bill in the Ohio House would exempt disabled veterans and their surviving […]
Despite promises, one Ohio tax break is costing $1B and creating few jobs, study says
When it was created in 2013, a tax break in Ohio was billed as a way to help small businesses create jobs. But as the tax break approaches its 10th anniversary, it is disproportionately benefiting the wealthy while doing little to deliver on its promise, a new study says.
Federal judge sides with GOP states challenging limits on tax cuts in pandemic relief law
WASHINGTON — A federal judge in Alabama has ruled in favor of attorneys general in 13 Republican-led states that sued the federal government over a section of a coronavirus relief bill that barred states from using relief money to offset tax cuts. The ruling, which granted a permanent injunction, found that the prohibition on state […]
DeWine signs budget, blocks erasure of COVID-19 health violations
Gov. Mike DeWine signed the $74 billion, two-year state budget into law, keeping in place nearly all of its signature policy positions and spending priorities while once again nixing an effort by Republican lawmakers to counter his administration’s methods of handling the deadly COVID-19 pandemic. The governor also vetoed an attempt by Republican lawmakers to […]
All tax cuts are not created equal
At the federal and state level, in governments run by both Republicans and Democrats, policymakers are cutting taxes. The federal American Rescue Plan, passed with no Republican votes, featured one of the largest one-year tax cuts in modern U.S. history. The Ohio House’s Republican-backed state budget bill features a 2% income tax cut across the […]
Ohio House passes state budget; here’s what to know
Ohio took a step closer toward a constitutional school funding model with the passage Wednesday of a two-year operating budget in the Ohio House of Representatives, a sweeping bill that also proposes an across-the-board income tax cut, a broadband internet expansion plan and more spending to aid businesses struggling from the pandemic. The House passed […]
GOP lawmakers seek to repeal tax on Ohio businesses
Some Republican lawmakers want to do away with an Ohio business tax that helps to fund state services. A new bill proposes to repeal Ohio’s “commercial activity tax” (CAT for short) by phasing it out over the next five years. This tax is levied on businesses with over $150,000 in yearly taxable gross receipts — […]
States question whether new federal stimulus law rules out tax cuts
WASHINGTON — President Joe Biden’s massive pandemic stimulus law pumps a welcome infusion of federal aid into state and local government coffers — but one brief section is raising questions about whether states are barred from cutting their own taxes if they accept the federal help. The Senate added language to the COVID-19 relief package prohibiting […]