A panel of lawmakers was asked to look into how the state could transition to a flat tax rate. But they found that the state needs to address a $7 billion question mark first.The report from the 2020 Tax Policy Study Commission claims a flat tax rate could be beneficial for the state.But the commission also says a transition would be challenging because of its 120-plus tax expenditures.The state foregoes $7 billion dollars in revenue a year from these so-called loopholes.Republican leaders have said a flat tax would reduce taxes and simplify code.Opponents argue that a flat tax would mean most Ohioans would pay more for a small portion to pay less.A separate group is looking into how the state can reduce its expenditures, which liberal and conservative think tanks support. Copyright 2017 The Statehouse News Bureau. To see more, visit The Statehouse News Bureau.
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Panel Finds Tax Expenditures Could Stand In Way Of Flat Tax Change
