OHIOS RECOVERY HAS TRACKED THE RECOVERY STARTED WELL BEFORE - - PowerPoint PPT Presentation

▶

Jul 20, 2023 140 likes •280 views

OHIOS RECOVERY HAS TRACKED THE RECOVERY STARTED WELL BEFORE NATIONAL RECOVERY GOV KASICHS FIRST BUDGET U.S. JOB-GROWTH RATE 2.3 % OHIO JOB-GROWTH RATE 1.2 % U.S. MEDIAN HOUSEHOLD INCOME $51,939 % OHIO MEDIAN HOUSEHOLD INCOME $46,398

SLIDE 1

SLIDE 2

OHIO’S RECOVERY HAS TRACKED THE NATIONAL RECOVERY RECOVERY STARTED WELL BEFORE GOV KASICH’S FIRST BUDGET

SLIDE 3

1.2%

OHIO JOB-GROWTH RATE

2.3%

U.S. JOB-GROWTH RATE

SLIDE 4

$46,398 OHIO MEDIAN HOUSEHOLD INCOME $51,939% U.S. MEDIAN HOUSEHOLD INCOME

SLIDE 5

“1 out of every 4 families in Ohio temporarily fall into poverty because of unanticipated crisis and the lack of financial cushion”

SLIDE 6

ANOTHER TAX SHIFT THAT FAVORS THOSE AT THE TOP MORE REGRESSIVE THAN EVER

SLIDE 7

23% Income Tax Cut $4.6 billion

RAISES TAXES BY $5.2 Billion CUTS TAXES BY $5.7 Billion Expands, Raises Sales Tax to 6.25% $2.4 billion Raises Cigarette Tax by $1 per Pack $991 million Raises CAT from .26 to .32% $691 million Raises Severance Tax to 6.5% $325 million

Eliminates tax for pass-though entities for businesses $696 million

Expands Personal Exemption $372 million

SLIDE 8

SLIDE 9

SCHOOL FUNDING

Only $464 million net increase in state aid to schools out of a record-sized GRF budget of $72 billion

SLIDE 10

SLIDE 11

COMMUNITY IMPACTS

Over the last four years, Ohio communities have been cut by an estimated $1.5 billion. However, in this record-setting $72 billion budget they see little relief.

SLIDE 12

1. FAVORS THOSE AT THE TOP

BUT LEAVES MORE AND MORE OHIOANS BEHIND

2. TAX SHIFT DOESN’T MAKE SENSE

FOR JOB CREATORS OR MIDDLE CLASS FAMILIES

3. SUPPORT FOR SCHOOLS DOESN’T PASS THE GRADE, CUTS

CONTINUE TO HURT LOCAL COMMUNITIES

SLIDE 13