Study Shows Little Oversight Of Billions In State Tax Breaks
A new study by the progressive-leaning think tank Policy Matters Ohio shows the state gives out billions of dollars in tax breaks with little oversight. Tax exemptions, credits and deductions will cost the state nearly nine billion dollars in fiscal year 2017. While state spending is reviewed and adjusted every two years, spokesperson Wendy Patton says tax expenditures are not subject to the same scrutiny.
The study shows the value of the tax breaks are nearly equal to what the state spends on public education, which is the largest item in the state budget. And Patton says sales tax exemptions also are costly.
A pending bill in the state legislature would create a committee to review tax breaks at least once every eight years.