Gov. John Kasich’s new tax proposal would deliver annual tax cuts averaging more than $2,800 to the top 1 percent of Ohio taxpayers while those in the bottom two-fifths would pay more on average than they do now.
Comparable tax rate will allow states to address impacts and invest in future
Ohio, Pennsylvania, and West Virginia should take a common approach to taxing gas and oil drilling in the Marcellus and Utica Shale, leaders of research and policy organizations from each state said today.
We write today to urge that our states — Pennsylvania, Ohio and West Virginia — take a common, regional approach to taxation of gas and oil at the state level, by adopting a severance tax rate on fracking no lower than that of West Virginia, without holidays, exclusions and credits, and with a similar tax base across all products yielded from a well.
Ohio is further along in our recovery than earlier jobs data indicated, according to freshly benchmarked jobs data from the Current Employment Survey released today by the Ohio Department of Job and Family Services.
Ohio jobs were down 2.4 percent (-132,600) from the start of the recession through January 2014, based on the revised seasonally adjusted numbers. This is a marked improvement compared to the unrevised data, which had the state trailing pre-recession jobs by 4 percent in December. The revised data suggest that the state has made more gains than previously reported.
Ohio has slashed aid for college students by a third over the past 10 years. As a result, it now invests less in need-based aid per full-time undergraduate than any Midwestern state and ranks 36th nationally.
The President’s proposed budget for fiscal year 2015 includes several important improvements to the pro-work Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) that, taken together, will reduce poverty among low-wage workers and their families, reduce income inequality, strengthen work incentives and send federal dollars to local communities. Congress should approve these proposals.
In this eNews: How much pizza you’d be able to buy with your tax cut; state policy can help our communities thrive; tax-dodging Ohio companies; inequality; tax cuts and weak growth; wrapping the community around our schools; Policy Matters is hiring a development manager.
On Thursday, March 13, Policy Matters Ohio is hosting two panel discussions at the City Club of Cleveland, 850 Euclid Avenue. United Way of Greater Cleveland has partnered with the Cleveland Metropolitan School District to develop wraparound strategies in 17 low-performing schools. Wrapping community support around academic environments has proven successful in other communities and it is the first time this innovative strategy has been implemented on a large scale in Cleveland.