New analysis says much of Ohio's business tax cut goes to the rich
When talking about Ohio’s controversial business tax deduction, Republicans often paint the picture of hard-working, small-business, mom-and-pop-type operations.
“The people I see benefiting from this in my hometown own small restaurants downtown, coffee shops, florists, dry cleaners, folks like that,” Sen. Matt Huffman, R-Lima, told his colleagues Wednesday night.
Senate Finance Committee Chairman Scott Oelslager, R-Canton, added: “They go to work every day, turn on a light in their stores, factories and farms and hope somebody comes in and buys their product. We have lifted the spirits of these people.”
But a new analysis by the Ohio Legislative Service Commission indicates that as much as $450 million a year of those business tax cuts are benefiting a wealthy slice of wage earners who represent only 0.5 percent of the state workforce and just 5 percent of those claiming the deduction.
Read more: http://www.dispatch.com/news/20170622/new-analysis-says-much-of-ohios-business-tax-cut-goes-to-rich