New Tax Breaks in Ohio’s State Budget
July 27, 2011
The budget bill approved by the Ohio General Assembly in June 2011 imposes devastating cuts on schools, local governments and health and human services. These cuts will hurt our economy and result in fewer jobs in the public and private sectors. Yet elected leaders who tout the virtue of spending cuts are spending on the other side of the ledger – in the tax code. Legislators approved an array of new tax breaks, the bulk of them for wealthy Ohioans and special interests, that will add up to more than $400 million a year when fully implemented. This July 2011 brief describes more than a dozen tax breaks the legislature authorized, expanded, extended or otherwise modified.