What you need to know about Ohio Politics and Policy
· February 7, 2013
Report: Kasich Tax Proposals Will Overwhelmingly Favor Wealthy Ohioans
Today Policy Matters Ohio released a report showing that the net effect of Governor Kasich’s tax reforms in his proposed budget would overwhelmingly favor the wealthiest Ohioans.
The analysis shows that Ohioans in the top 1 percent of incomes would receive an annual tax cut of $10,369, while families in the bottom fifth — making less than $18,000 a year — would pay $63 more a year. Ohioans in the middle — making between $33,000 and $51,000 — would see an increase of about $8 a year.
On Monday, Governor Kasich was emphatic that this budget includes tax cuts for every Ohioan. Unfortunately, the analysis shows the only Ohioans guaranteed to see any sort of tax break are those in the highest income brackets. The rest of us will pay more.