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Report Connects Business Tax Deduction to Economic Growth

Statehouse News Bureau
The Ohio Chamber of Commerce says the state should keep the business income tax deduction, known as BID, in place as it has helped keep the state competitive. However, the deduction has caused the state to lose $1.1 billion in tax revenue.
A study from the Ohio Chamber of Commerce is touting the effectiveness of a tax deduction for company owners which they say keeps state competitive.
The report says the state s business income deduction helped generate a $5.9 billion increase in economic activity and led to 59,000 jobs, in 2018.
The deduction, known as BID, allows business owners to not pay taxes on the first $250,000, and a flat 3% rate after that. ....

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Ohio lawmakers should make the most of the American Rescue Plan | Policy Matters Ohio

Policy Matters Ohio released today a set of recommendations for how state lawmakers should spend one part of the billions of federal dollars coming to Ohio thanks to the American Rescue Plan Act (ARPA): The funds that come straight to the state for lawmakers to use to retore and rebuild after the pandemic and recession.
The ARPA will send an estimated $31 billion in federal funds to Ohio via stimulus checks, enhanced unemployment insurance, and money for public transit, schools, hospitals, health care centers, child care and other critical programs. Ohio’s state government will receive $5.6 billion in flexible funds and local governments will get $5.4 billion, both to be spent by the end of 2024. ....

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How will the child tax credit affect rural Ohio?

How will the child tax credit affect rural Ohio?
dispatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dispatch.com Daily Mail and Mail on Sunday newspapers.

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Policy Matters opposes barriers to basic supports, arbitrary cuts to regulations | Policy Matters Ohio

SB 17 would cut food aid, Medicaid and unemployment compensation; SB 9 would arbitrarily scrap regulations
Policy Matters Ohio provided written testimony against two pieces of legislation moving in the Ohio Senate today. Both would undermine the ability of the state government to fully serve all Ohioans, no matter where they live or how much money they have.
Policy Matters Researcher Will Petrik testified against Senate Bill 17 before the Senate Government Oversight and Reform Committee. The legislation would make it harder for Ohioans to access Medicaid and the Supplemental Nutrition Assistance Program (SNAP) due to burdensome reporting requirements and photo IDs for people who use food aid. The bill includes asset tests that would bar someone from receiving support if they own a car or their home. It would penalize Ohioans who receive unemployment compensation if the state accidentally overpays them. ....

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Cincinnati lawmakers could help bring Ohio minimum wage to $15 per hour by 2027

Cincinnati lawmakers could help bring Ohio minimum wage to $15 per hour by 2027
Nathan Hart
and last updated 2021-02-05 16:15:27-05
COLUMBUS, Ohio â Ohio could raise the state s minimum wage to $15 an hour, thanks to two Cincinnati representatives.
Representatives Cecil Thomas and Brigid Kelly recently drafted legislation for the Ohio General Assembly that â if passed â would raise the minimum wage in Ohio to $15 per hour by 2027.
Sen. Hearcel Craig, a Democrat from Columbus, co-sponsored the bill.
Under the proposed legislation, the minimum wage would increase to $10 in 2022. The minimum wage would then increase by $1 per hour every year until it reaches $15 per hour in 2027. At that point, the minimum wage would grow with inflation. ....

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