© 2024 Ideastream Public Media

1375 Euclid Avenue, Cleveland, Ohio 44115
(216) 916-6100 | (877) 399-3307

WKSU is a public media service licensed to Kent State University and operated by Ideastream Public Media.
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
News
To contact us with news tips, story ideas or other related information, e-mail newsstaff@ideastream.org.

Ohio Lawmakers Eye Income Tax Rate In Budget Debate

Republican Finance Committee Chair Ryan Smith says it is important to cut income taxes, especially for small businesses. They would get another tax break under the house's proposed budget.

Smith: "We think this will allow them to keep more of their hard earned money and invest it back into their businesses so they can create more jobs for Ohio's future."

But some House Democrats, including Denise Driehaus, say not all small businesses should get the proposed tax cuts.

Driehaus: "If you are going to invest in your business, you are going to buy a piece of equipment or hire somebody, then apply for the incentive because that incentive should go to you instead of somebody who is simply going to take those dollars and not use them to reinvest and then no economic activity takes place."

Driehaus says lawmakers have cut income taxes for individuals and businesses for ten years and it hasn't had a substantial positive effect on Ohio's economy.