News & Notes November 15, 2013
News: Bell’s ’14 budget called Austere, Toledo Blade Notes: Toledo’s 2014 budget proposal will cut back on street repairs as a result of the elimination of the estate tax by the state that eliminates an estimated $3.4 million from the local budget. The city recieved $13.9 million from the local government in 2012, now the city will receive only $8.1million. The budget also cuts overtime money for police and fire fighters.
News: New York City to Test New Tax Credit for Working Poor, Governing Notes: Tax credits must be well targeted and evaluated for effectiveness for policymakers to implement them and to allow them to continue. Earned Income Tax Credits (EITC) have proven effective at lifting individuals and families out of poverty. New York City is doing a study to expand the federal EITC in their city. Instead of poorly targeted and ineffective income tax rate cuts, Ohio should strengthen our EITC program at the state level.