COLUMBUS — State Representative John Adams (R- Sidney) today proposed legislation to continue the incremental elimination of the personal income tax.
“Ohio’s economy and taxes have a direct relationship,” said Rep. Adams. “Whether it is state or local taxes, we have a duty to act on this issue. Eliminating the income tax is the best way to spur our economy and our state’s prosperity.”
Some lawmakers seek to incrementally diminish the income tax in Ohio, while others prefer swift and sweeping changes to the tax policy. If nothing else, this bill is meant to stimulate discussions about the best way to eliminate Ohio’s income tax and alleviate the tax burden placed on Ohio’s businesses and residents.
“According to economist Eric Fisher, eliminating the income tax will have three important benefits,” Rep. Adams stated. “First, it will stem Ohio’s relative population loss. Second, it will increase the long-run rate of economic growth in this state. Third, it will encourage our best and brightest citizens to work more, benefiting their own families and our state’s economy more widely.”
Ohio is currently a high-tax state, which creates a tax burden on individuals who look to make Ohio their home. High-tax states rob citizens of economic prosperity and perpetuate outward migration of wealth and people.
Rep. Adams looks forward to working with his legislative colleagues as this bill is assigned to committee and urges leadership to commence hearings immediately.
Friday, December 18, 2009
RELEASE: Adams Takes Steps to Diminish State Income Tax