As your constituent, I urge you to support the House/Senate Concurrent Resolutions to make the 2017 Tax Cuts and Jobs Act (TCJA) permanent. The TCJA has been crucial in providing economic stability and growth for working-class Ohioans and businesses across our state.
Key Benefits of the TCJA:
• Lower Individual Tax Rates: Ohioans have enjoyed reduced tax rates, allowing families to keep more of their hard-earned money.
• Increased Standard Deduction: Nearly doubling the standard deduction has simplified tax filing and provided significant relief to low- and middle-income households.
• Support for Small Businesses: The TCJA has made it easier for small businesses to invest and grow by allowing immediate 100% bonus depreciation on new equipment and raising the deduction limit to $1 million.
If the TCJA expires, Ohioans will face tax increases of over $2,000 per household, and businesses will see an average tax hike of over $800. These changes will impact over 4 million Ohioans.
Please act now to co-sponsor the resolutions and ensure the continued prosperity of our community.