News

GOP proposes 18% income tax cut

COLUMBUS, Ohio – Statehouse Republicans unveiled a tax reform package they claim will provide nearly $2.6 billion in relief over the next three years by reducing personal and business income tax rates.

Leaders of the House and Senate released their plan last Thursday to slash income taxes by nearly 18 percent over two years and whack small business taxes in half.

House Speaker William Batchelder (R-Medina), Senate President Keith Faber (R-Celina), House Finance and Appropriations Committee chair Ron Amstutz (R-Wooster) and Senate Finance Committee chair Scott Oelslager (R-North Canton) took the wraps off the package, part of their two-year budget plan, which includes reductions in the personal income tax rate of 8.5 percent in the 2014 fiscal year, 9 percent the following year and 10 percent in 2016.

The proposal also includes a 50 percent small business tax cut.

They’re making up the difference with a quarter-percent hike in Ohio’s sales tax from 5.5 to 5.75 percent.

Lawmakers must pass the budget by Sunday.

The plan also includes taxes on Internet sales and products delivered electronically, expanding the Homestead Tax Exemption to seniors who earn less than $30,000 and eliminating the gambling loss deduction.

Both the House and Senate Ways and Means Committees will review the proposals.

Featured Events

CommunityCalendar620

New Year’s Eve with Elvis

Celebrate New Year’s Even with dinner and dancing to the tunes by authentic Elvis Presley tribute artist Mike Albert.

News

in Entertainment, Lifestyle

11 awkward Thanksgiving jokes

Fresh
WP-ThanksgivingJokes-UncomfortableGpa

Worried about spending quality time with family this weekend? Cut the dinner table tension with a delightfully awful Thanksgiving zinger.

in Entertainment

Today in entertainment history: Nov. 26

FILE - In this March 5, 2009 file photo, Michael Jackson is shown at a press conference in London. Testimony from AEG Live executive Paul Gongaware on his interactions with Jackson and his negotiations with the singer’s doctor dominated the fifth week of a civil case against the company filed by the superstar’s mother, Katherine. On Tuesday May 28, 2013, Gongaware reluctantly acknowledged that he negotiated the $150,000 per month rate that Jackson’s doctor expected to be paid to serve on the “This Is It” tour.

A look at the Hollywood headlines that made history.

in Black Friday, Entertainment

PHOTOS: Macy’s Parade through the years

AP970543650046_2

For 88 years the iconic Macy's Parade has been a Thanksgiving tradition.