Report shows Kasich tax plan favors the wealthiest Ohioans
Posted February 10, 2015 in Press Releases
Kasich tax proposal would produce an average tax cut of $11,906 for top 1 percent, while increasing taxes on lower- and moderate-income families
Contact: Zach Schiller, Policy Matters Ohio, 216.361.9801
Jenice Robinson, Institute on Taxation and Economic Policy, 202.299.1066 Ext. 27
The Kasich administration proposal to cut income taxes and expand sales and other taxes would produce big tax cuts for Ohio’s most affluent residents while increasing taxes on lower- and moderate-income families. That is the main result of an analysis by the Institute on Taxation and Economic Policy for Policy Matters Ohio that was released today.
ITEP found that the proposal would provide an $11,906 annual tax cut, on average, to taxpayers in the top 1 percent of the income spectrum, who made more than $388,000 in 2014. The bottom three-fifths of taxpayers