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Analyst: Income Tax Limits Plan Could Harm Ohio Bond Rating
By: Associated Press
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COLUMBUS, Ohio (AP) – A fiscal analyst has warned lawmakers that a proposal to make it harder to raise the state income tax could harm Ohio’s bond rating.
At issue is a proposed constitutional amendment that would impose a supermajority requirement in both chambers for the General Assembly to raise such taxes.
Zach Schiller is research director at the nonpartisan organization Ohio Policy Matters. Gongwer News Service reports Schiller told the Senate Ways and Means Committee Tuesday that other states with similar supermajority requirements have seen their credit ratings lowered.
Gongwer reports no one testified last week at a hearing set aside for supporters.