BuckeyeBlog

Today, the Ohio Ballot Board certified the language for an initiated statute amendment to eliminate Ohio’s estate tax. The 1851 Center drafted sample language for the amendment that was adopted by Citizens United to End Ohio’s Estate Tax. With the Ballot Board’s approval, signatures can officially be collected to have the state legislature consider the initiative.

The 1851 Center’s sample language for the initiative can be viewed here.

On Monday, the Buckeye Institute released a viewpoint by policy analyst Marc Kilmer explains how the elimination of the estate tax will spur Ohio’s economic growth. That viewpoint can be read here.

As you may have noticed on our website, the Buckeye Institute today released a report authored by former Congressional Budget Office Director Douglas Holtz-Eakin and Cameron Smith. It discusses the effect of the estate tax on small businesses and finds that permanently eliminating the estate tax could create roughly 1.5 million jobs. In Ohio, over 58,000 jobs would be created. President Obama’s “stimulus” plans will ostensibly create 3 million jobs. An estate tax repeal would be a far cheaper alternative.

This study does not discuss state estate taxes. Ohio’s estate tax was the subject of a 2001 Buckeye Institute report which, while somewhat dated, still offers a grat analysis of the tax and recommendations for reform. The tax is also mentioned in the policy brief Ohio’s Dumb Taxes. Needless to say, the research suggests that if Ohio were to eliminate its estate tax, it would be better off economically.