The Buckeye Institute: Reforming Ohio Tax System is Needed to Attract Businesses and Grow the EconomyOct 17, 2017
Columbus, OH – Rea S. Hederman Jr., executive vice president at The Buckeye Institute, commented on the Tax Foundation’s newly released 2018 State Business Tax Climate Index.
“Today, the Tax Foundation released the 2018 State Business Tax Climate Index, which ranks all 50 states by how well they structure their tax system. Unsurprisingly, Ohio ranks near the bottom of the barrel at 45 out of 50 – the same ranking we have had for the past two years. As Ohio stands still, other states are moving forward on tax reform which is a contributing factor to our uneven labor market.
“There are two main strategies that Ohio should employ to attract business and shake off the low ranking. First, Ohio needs to get rid of business tax expenditures. These hurt businesses and job growth, and discourage investment. Second, Ohio should focus on broadening the tax base and lowering tax rates. Implementing these two strategies, and others we have outlined in our Tax Reform Principles for Ohio, will improve our tax climate and will make Ohio an economic engine in the Midwest.”