Policy Research and Reports
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.
Columbus, OH – On Wednesday, The Buckeye Institute released its latest report, Education Savings Accounts: Expanding Education Options for Ohio, by Greg R. Lawson and Lindsey Burke. This timely new research assesses the benefits of educational savings accounts and calls on Ohio policymakers to adopt this innovative tool, which gives parents the ability to pay for the education services that best meet their child’s individual needs, rather than being forced to use a one-size-fits-all model.
In his latest executive budget, Governor Kasich has again proposed raising Ohio’s tax rates on tobacco products from $1.60 to $2.25 per pack. Mr. Kasich’s budget also proposes raising the tax rate on other tobacco products (OTP) from 17% to 69% of the wholesale price, and extending the OTP tax to include vapor products such as e-cigarettes.
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.
If Ohio does not address its growing prison population soon, the state may need to spend $1 billion to build a new prison, in addition to the $1.7 billion it now spends annually to incarcerate approximately 51,000 inmates. At 134% capacity, the state’s prisons are woefully overcrowded and Ohio risks a court ordering the immediate release of a percentage of the prisoners like California was forced to do in 2011.
Substantial research supports the conclusion that greater economic freedom leads to greater prosperity. This is the 12th edition of the Fraser Institute's annual report, which analyzes economic freedom by comparing 10 variables in 92 state and provincial governments in Canada, Mexico and the United States. The Buckeye Institute examined the data to provide an overview of economic freedom in Ohio.
Advocates for the energy standards contend that the renewed mandates will spur job-growth in Ohio’s renewable energy and energy-efficiency sectors. Unfortunately, as The Buckeye Institute has recently explained, good news for green energy companies will be heavily offset by damage to the rest of Ohio’s economy—particularly in the energy-intensive manufacturing sector.