Tax Increase Only Hinders Jobs...

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Tax Increase Only Hinders Jobs...

Posted by Carlisle Daily News on 1:14 PM // 5 comments

Tax Increase Only Hinders Jobs, Paralyzes Ohio

Columbus—State Representative Peter Beck (R-Mason) today denounced the passage of House Bill 318, a budget related measure that will retroactively raise taxes by nearly $900 million further diminishing the potential for job growth throughout Ohio.

“While I am relieved that a budget agreement has been agreed to, it is disheartening to see Governor Strickland and House Democrats rely on revenues to come from Ohio families and small businesses,” said Beck. “House Bill 318 lacks a long term solution. This band-aid legislative measure will only paralyze Ohio at a time when reevaluation and reform should drive the debate in Columbus.”

Governor Strickland and House Democrats supported the 4.2 percent retroactive tax increase while ignoring House Republican calls for waste reduction and government accountability. With a heavier burden being forced upon the shoulders of entrepreneurs, House Republicans fear the effect this tax increase will have on Ohio's long-term job potential.

Small businesses have generated 64 percent of net new jobs over the past 15 years, according to the Small Business Association. They also employ approximately half of all workers in the U.S. and pay 44 percent of total private payroll.

House Republicans believe that raising taxes in this economy will ruin Ohio's competitiveness in creating jobs and attracting new business opportunities. With one of the top ten highest state income tax rates in the country, further raising Ohio's income taxes will compel families and businesses relocate elsewhere.

The measure passed the House 54-42.