Hopefully you know by now about our report, created in partnership with the Center for American Progress Action Fund, on how the Romney-Ryan economic and tax agenda will adversely affect Ohioans. If you don’t have time to read the entire report, how about taking a few minutes to hear from IO’s president, Janetta King. In this video from an event in Columbus, Ohio earlier this week, King discusses exactly who would pay more in taxes if Mitt Romney were to become president and corrects some inaccuracies in a recent Columbus Dispatch editorial about the federal loan to the auto industry.
- Middle-class Ohioans would pay more in taxes while millionaires pay less. Millionaires in the state would receive an additional $87,000 in tax breaks under the tax plans of Gov. Romney and Rep. Ryan while middle-class families would pay $1,900 more in health care taxes and $1,066 more in taxes on their mortgages.
- Jobs would decline across Ohio. Gov. Romney and Rep. Ryan plan to provide extra tax incentives for corporations to outsource jobs and are pushing policy proposals to cripple the clean energy industry, jeopardizing 125,000 jobs across the state.
- Drastic cuts to federal spending would shrink Ohio’s middle class. The state stands to lose more than $106 billion in federal funding from 2013 through 2022, an average of more than $10 billion a year, from cuts to schools, law enforcement, highway repairs, job-training programs and more. These cuts would fall predominantly on middle-class and low-income families, especially cuts to education programs that would result in nearly $100 million in reduced federal support for education in the state in 2013 and 2014 alone.
- Seniors in Ohio would lose health care benefits and pay more. Gov. Romney and Rep. Ryan would force seniors in the state to pay at least $660 more for their prescription drugs each year.