Ohio Democrats Propose 10 Percent Tax Cut for Middle and Lower Income Brackets
Rep. Mike Foley of Cleveland says the Democrats' proposed 10 percent cut for all but the two top tax brackets would be paid for by refiguring the 7 percent across-the-board income tax cut in majority Republicans' version of the budget.
FOLEY: "This proposal would not only provide a tax cut directly targeted at middle-class Ohioans, but would provide an additional $118 million for schools -- $54 million in fiscal year '14 and $64 million in fiscal year '15. This targeted middle-class tax cut would apply to all Ohioans making under $105,000 annually, or all those in the bottom seven tax brackets we have set up in the state."
Foley says he hopes the Democrats’ tax cut proposal will be considered when lawmakers have to work out the differences between the House and Senate versions of the budget.
Democrats say the rise in the unemployment rate by nearly half a percentage point between December and March shows that tax cuts aren’t working to create jobs. But the Kasich administration has said Ohio is in a slow recovery, which will include periods where the jobless rate will rise or remain steady.