Ohio House Democrats Contrast Republicans' Continued Tax Cuts for the Wealthiest Ohioans with Democratic Bills that Put Money in the Pockets of Everyday Ohioans

COLUMBUS — Earlier this week Ohio House Democrats spent Tax-Day highlighting Democrat-led bills that create real opportunities for tax relief for Ohioans under the greatest financial strain and that will positively benefit the economy. These videos are in direct contrast to the continued tax cuts for the wealthiest residents that Republicans have pursued, including a $1.4 billion handout exclusively for the wealthiest Ohioans and a budget that makes cuts to programs that the majority of Ohioans either rely on or benefit from. Republicans’ two decades of insisting that income tax for the wealthiest Ohioans would trickle down to the rest of Ohio has proven to be incorrect on nearly every metric as cost-of-living is higher than ever and Ohio’s economy continues to lag the nation and the region. 

The bills highlighted earlier this week by Ohio House Democrats included: 

• HB 103 (Troy, Hall, T.) - Increases homestead exemption value and eligibility 
  
  • Updates the homestead exemption program in Ohio by increasing the income eligibility for the exemption and updating the property valuation methodology, helping Ohioans on fixed incomes to stay in their homes and their communities
  • Video linked here 
     
• HB 140 (McNally, Lett) - Creates refundable Thriving Families Tax Credit for certain income taxpayers with dependents who are minor children
  
  • Provides direct relief to families via a tax credit in a tiered way: Ohio families with children ages 0 - 5 would receive a $1,000 tax credit and families with children 6-16 would receive a $500 tax credit per child
  • Video linked here
• HB 365 (Brennan, Hall, D.) - Property Tax Refund Act, circuit breaker
  
  • Provides up to a $1,000 in state-funded property tax refund for Ohioans whose property taxes or rent are equal to or over 5% of their income. The tax refund is for Ohioans making $100,000 or less. 
  • Video linked here 
     
• HB 529 (Sigrist, Schmidt) - Authorize refundable tax credits for hiring certain veterans, service members, and their spouses. 
  
  • Provides a tax credit to businesses that hire and retain veterans, members of the National Guard and Reserve, and military spouses, a necessary incentive for businesses to hire and retain those families who have served our country
  • Video linked here
     
• To be introduced (Sims): Partially refundable Earned Income Tax Credit 
  
  • Provides a partially refundable state earned income tax credit for low-to-moderate income working individuals and families, putting more money directly back into the pockets of Ohioans who need it the most
  • Video linked here 
     
• To be introduced (Baker): Sales Tax Exemption for Over-the-Counter Medications and Devices
  
  • Exempts over-the-counter medications and devices supplies from sales tax, expanding an already implemented tax exemption on prescription medications
  • Video linked here 

Ohio House Democrats believe that the time is now to stop cutting taxes for the wealthiest at the expense of everyday Ohioans. It’s time to choose to implement policies that rebrand Ohio’s economy. 

“Because of choices this Republican majority has made for the last two decades to cut taxes for the wealthiest at the expense of everyone else, the majority of Ohioans are finding life to be unaffordable. Every year Ohioans are paying the same amount or more in taxes and seeing less for it. That is why Ohio House Democrats are fighting for Ohio we can afford, not an Ohio that solely works for the wealthiest few,” said Ohio House Minority Leader Dani Isaacsohn (D- Cincinnati). “If we are serious about lowering costs, then we need to focus on working families, children, small businesses, seniors on fixed incomes, and homeowners who are being squeezed from every direction. Ohioans deserve a tax system that reflects real life, respects the pressures people are under, and delivers relief where it is needed most.” 

Ohio House Democrats believe that the chance for economic prosperity, the best jobs, and the best schools should be right here at home. That’s why the caucus continues to introduce impact legislation that will create an Ohio we can afford.