Posted January 13, 2024 in eNews
Numeric news from Policy Matters
6: Number of weeks since the last “biweekly” issue of Saturday Stats. We have some catching up to do!
273: On average, that’s the number by which you have to multiply the 2022 median worker pay at Ohio’s major corporations to find the median CEO pay at the same companies. The good news: That number is lower than in previous years. The bad news: The good news is an illusion cause by changes in the stock market that have likely already backfilled any pay lost by those CEOs in the time since the data were collected. Economist Michael Shields explains in this year’s CEO pay report.
223: Lines of text added at the last minute to House Bill 201; the original version contained just 19. Turns out, that additional language included shameless giveaways to fossil-fuel-reliant utility companies. In our latest blog, Climate & Sustainability Researcher Molly Bryden discusses how these amendments benefit private utility companies at the expense of Ohioans. Molly was among those urging Gov. DeWine to veto the amended bill. He signed it on December 28.
150K+: Ohioans who will directly benefit from this month’s adjustment to Ohio’s minimum wage. Another 238,100 workers who were paid a little more than the minimum will likely get a boost as well, as employers adjust pay scales. The adjustment happens every year to ensure the lowest-paid workers aren’t losing income to inflation. It’s one of our favorite examples of how smart economic policy appeals to Ohio voters, who made this annual adjustment part of our constitution in 2006.
200+: Number of Ohioans who, back in May, submitted opponent testimony when the House Public Health Committee considered House Bill 68, the bigoted anti-trans bill. Gov. DeWine vetoed it last month, shortly before issuing his own set of restrictions on gender-affirming care; they immediately went into effect. We acknowledged DeWine’s veto and applauded the advocates who resisted HB 68 all along. Budget & Health Researcher Kathryn Poe provided the Buckeye Flame with an analysis of Gov. DeWine’s rules. This week, 65 representatives voted to override DeWine's veto. You can still urge their colleagues in the state Senate to do better.
12.7%: Average effective state and local tax rate for Ohioans making less than $22,500 annually — that is, the lowest-income 20%. Compare that to the rate for the highest-paid 1% — those paid at least $622,800: 6.3%. That’s right: As a share of income, the top 1% pay less than half as much as the lowest-paid. That’s according to a new report from our friends at the Institute on Taxation and Economic Policy (ITEP). It’s just one of the frustrating findings highlighted by Tax Policy Researcher Bailey Williams in his analysis of ITEP’s report.
$1,000: Maximum benefit of our proposals for a property-tax circuit breaker, detailed in this new report from Research Director Zach Schiller. You may recall Zach’s November release advocating for a circuit breaker in Ohio. Now, Zach gets specific, with new data on two ways to use the circuit-breaker principle to ensure that Ohioans with low or moderate incomes can stay in their homes as assessed values increase — and ensure schools and libraries don’t lose out on those vital tax dollars.
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