We have testified previously in opposition to another bill, House Bill 98, which is similar to House Bill 134 in that it would reduce income-tax rates on unearned income. We believe many of the same arguments apply to HB 134. The capital-gains tax cut will overwhelmingly flow to a small number of wealthy Ohioans, while providing little or no benefit to the bulk of Ohio residents. Meanwhile, the bill would cost badly needed tax
revenue, complicate the tax system and add to the need for tax enforcement. ...

Full Testimony

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