Orphe Divounguy, Ph.D.
Columbus, OH – Today, The Buckeye Institute released its latest policy brief, Building a Better Future: An Analysis of Ohio’s Tax and Spending Policies, which looks at the tax and spending policies Governor John Kasich and the Ohio General Assembly have adopted since 2013 and their impact on Ohio’s economic growth.
Every year, The Buckeye Institute and the Fraser Institute release Economic Freedom of North America (EFNA), an index ranking economic freedom in the states. The rankings look at the ability of individuals to act in the economic sphere free of undue restrictions, such as a high tax burden or labor market regulations.
Columbus, OH – A new report, Addressing Louisiana’s Budget Shortfall: Strategies for Growth, released today by The Buckeye Institute’s Economic Research Center, found that Louisiana’s proposal to raise taxes to finance more government spending will hinder economic activity and growth.
Wyoming policymakers face many different decisions on how to change fiscal policy to improve growth or fund the government. Using a dynamic macroeconomic model to simulate the Wyoming economy, this paper examines several different policy scenarios where taxes can be raised or lowered to pay for more or less government spending.
Since 2008, the Wyoming economy has been contracting even as the overall United States economy has been expanding. Job creation is stagnant and Wyomingites are leaving the labor force. State tax revenues are shrinking with the state economy. The sharp downturn in energy commodities is the main culprit behind Wyoming’s downturn.
Gov. Kasich’s proposed FY 2018-2019 biennial budget advances several tax policy changes, which represent a sound general direction for policy. However, government should not be in the business of penalizing nor rewarding select sectors, businesses, or industries—as happened with the Kasich Administration’s proposed severance tax increase and new taxes on the vaping industry.