Sen. Matt Huffman (R-Lima)
Republican leaders of the Ohio Senate have proposed a $75-billion-dollar, two-year budget that includes a 5% across-the-board income tax cut. The tax cut is a boost from 2% cut in the House budget.
Senate President Matt Huffman (R-Lima) said the issue he’s hearing about most these days is employers who cannot find enough employees. So, he says the 5% cut, which totals $874 million, is an “incentive” for working Ohioans.
“If we want to talk about stimulus plans and what works and what doesn’t, an income tax cut will always be the best stimulus, Huffman said.
Huffman said the tax cut is not targeted to specific incentives but will be across-the-board for all Ohioans. The Senate budget includes $1.3 billion in tax cuts for individuals and businesses, and Huffman said that’s paid for by reductions in spending in state agencies and services.
Supplemental unemployment compensation (UC) from the federal government has been helping Ohioans make ends meet during the unprecedented economic dislocation the pandemic has caused. Gov. Mike DeWine’s decision to cut off the additional $300 a week on June 26, 10 weeks before the benefits expire, is cruel punishment for more.
Policy Matters releases three “Budget Bites” with targeted recommendations
Policy Matters Ohio released three “Budget Bites” today that point the way to expanding opportunity and creating stability for all Ohioans by increasing support for public higher education, child care and kinship care.
“We all deserve to live in a state that sets us up for success, no matter what we look like or the size of our bank accounts,” said Policy Matters Communications Director Caitlin Johnson. “Certain politicians want to send our public resources to their corporate and ultra-wealthy backers at the expense of our families and our communities. We can use our state budget to make sure our children grow up in healthy homes and have support to go where their dreams and abilities take them.”