Ohio prepared to ‘compete’ for business investment, jobs as it slashes tax rates

Attorney Remi Spencer tells ‘Fox Business Tonight’ the decision may be repeated in other states

Ohio is ready to reap the economic benefits of a tax reform strategy 15 years in the making – the state is just one of a handful to announce rate reductions as its economy recovers from the coronavirus pandemic.

Ohio’s Lt. Gov. Jon Husted told FOX Business that state leadership is hoping to attract new business investment and residents after it recently detailed the latest iteration of a series of ongoing tax reform measures.

“Fifteen years ago we began reforming our tax plan – we eliminated the corporate franchise tax … eliminated the death tax — we went from a high-tax state to a lower- tax state,” Husted said. “We absolutely do see it as a time to compete. Capital will ultimately go where it can be the most appreciated.”

Ohio Gov. Mike DeWine signed a state budget for 2022-2023 that includes 3% tax cuts worth an estimated $1.6 billion. About…

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