Ohio governor sets goal to reduce state's top income tax bracket
Written by Associated Press   
Friday, 19 July 2013 06:27

 

BATAVIA, Ohio (AP) — Gov. John Kasich says he wants to get Ohio's top income tax bracket under 5 percent.

The GOP governor discussed his target Thursday at the Milacron plastics plant in Batavia in southwest Ohio.

The Cincinnati Enquirer (http://cin.ci/18r096H ) reports that Kasich said tax cuts in the state budget he signed three weeks ago help give the state something to market.

The top income tax rate before the budget took effect was 5.925 percent. That rate will now fall to 5.3 percent by 2015.

The budget cuts business owners' taxes by allowing them to pay taxes on only half of their first $250,000 in income. It reduces all Ohioans' income taxes by 10 percent by 2015.

Kasich plans stops around the state this summer to discuss the $62 billion, two-year budget.


Copyright 2013 The Associated Press.

 

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