❌ SB3

Phase-down the state income tax to a flat rate of 2.75%

Current Status: In Senate Committee (Ways and Means)

Summary

The bill proposes to amend the Ohio Revised Code to phase down the state income tax to a flat rate of 2.75% over a two-year period. It applies to individuals, trusts, and estates earning or receiving income in Ohio, including lottery and gaming winnings. The bill also includes provisions for tax adjustments based on income thresholds and specifies the tax rates for different income brackets.

Rationale

The bill aligns with Libertarian principles by reducing the income tax burden, promoting economic freedom, and supporting individual financial autonomy. However, it does not fully eliminate the income tax, which is a core goal of both the LP and LPO platforms.

Risks and Concerns

Potential for increased government dependency on other forms of taxation.
May not address broader issues of government spending and fiscal responsibility.