![]() ![]() In fact, they see HB1 as only the first step toward getting rid of Ohio’s state income tax entirely within a few years. The answer, according to those who support HB1, is that reducing income taxes is good both for ideological reasons – that Ohioans deserve to keep more of their money – and pragmatic reasons, including that lowering taxes will goose the state’s economy and lure more people and businesses to a state that has seen much more modest population gains in recent decades than states like Texas and Florida, which have no state income tax. “So what is the rationale for that? I mean, why is it that we want to cut taxes for rich people?” And the only people who benefit significantly will be high-income Ohioans,” Zach Schiller, research director for Policy Matters Ohio, a left-leaning think tank. It’s going to do very little for middle income people. “This is going to do nothing for poor people. ![]() HB1 states it is the “intent of the General Assembly” to appropriate funds during the next two fiscal years to help local governments hurt by this change, though it remains to be seen where that money would come from. That is state money given to local governments, such as school districts, cities, libraries, park districts, counties, to backfill their losses from tax exemptions, such as those given to older Ohioans and military veterans. ![]() HB1 would make up for the lost income-tax revenue by ending $1.2 billion per year in state property tax rollbacks. ![]()
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