Columbus, OH (April 10, 2012) – Today the Executive Committee of the Columbus Chamber voted to support the income tax cut plan proposed by Gov. John Kasich. The committee took this action under the recommendation of the Chamber’s Government Affairs Steering Committee’s Legislative Advisory Council, with input from the Small Business Council.
“We frequently hear from Columbus Chamber members about the need to improve Ohio’s economic competitiveness relative to the current tax structure. A strategy to reduce income taxes would encourage additional job creation and capital investment,” said Michael Dalby, president and CEO, Columbus Chamber. “Gov. Kasich’s plan puts a legitimate option on the table that deserves discussion and consideration.”
The Columbus Chamber supports the effort to create a tax environment that would be fair and reasonable for Ohio’s businesses and welcoming to those considering locating and expanding in the state and region. Due to the proposal’s impact on small business, the Chamber solicited input from its Small Business Council.
“Over the years, the Chamber’s Small Business Council has had numerous discussions on Ohio’s tax structure and its negative impact on business growth,” said Jeffrey Logan, chairman, Columbus Chamber Small Business Council. “Most small businesses are S Corporations, which means business income is taxed as personal income. Any effort to reduce Ohio’s income tax directly translates into business investment, so I applaud the proposal.”
Small businesses typically operate on tight margins, and reducing taxes allows for business growth, business investment and leads to job creation. Feedback from Chamber members and other businesses indicates Ohio’s current income tax rates negatively impact small business creation and growth.
The Columbus Chamber represents approximately 2,000 businesses in the Columbus Region and serves as a primary advocate for a business-friendly environment. The advocacy role of the Chamber centers on educating members, building relationships and creating a capital program for the Central Ohio business community. A Public Policy Agenda, a rolling agenda, guides the Chamber’s public policy actions.
For more information on the Columbus Chamber’s advocacy efforts, visit http://www.columbus.org/initiatives/advocacy/.