tax cuts

Two years ago Friday, Republicans in Congress passed a sweeping tax cut. It was supposed to be a gift-wrapped present to taxpayers and the economy. But in hindsight, it looks more like a costly lump of coal.

Passed on a party-line vote, the tax cut is the signature legislative accomplishment of President Trump's first term. He had campaigned hard for the measure, promising it would boost paychecks for working people.

Updated at 4 p.m. ET

The federal deficit ballooned to $779 billion in the just-ended fiscal year — a remarkable tide of red ink for a country not mired in recession or war.

The government is expected to borrow more than a trillion dollars in the coming year, in part to make up for tax receipts that have been slashed by GOP tax cuts.

Corporate tax collections fell by 31 percent in the fiscal year ending Sept. 30, despite robust corporate profits. That's hardly surprising after lawmakers cut the corporate tax rate from 35 percent to 21.

The Public Utilities Commission of Ohio has approved an agreement returning proceeds of the federal tax cut to customers of Columbus-based American Electric Power. 

Ohio Republican party officials say President Trump will campaign for GOP 12th congressional district candidate Troy Balderson this Saturday in Delaware County. 

President Trump criticized U.S. immigration policies during a business roundtable in Cleveland on Saturday. 

The White House says President Trump will visit Cleveland this weekend to tout his unpopular tax cuts. 

The White House says President Trump will visit Cincinnati and Blue Ash on Monday to promote the the Republican tax plan he signed into law last year. 

State lawmakers are considering giving farmers a real estate tax break.

Ohio Governor John Kasich is among the many Republicans who say cutting taxes helps the economy.