tax cuts

AEP Will Send Customers Some Savings From Federal Tax Cut

Oct 4, 2018
Electric cat / Wikimedia Commons

Ohio utility regulators have approved an agreement returning proceeds of the federal tax cut to customers of Columbus-based AEP.

Job seekers at one of two fulfillment centers in Central Ohio.
Esther Honig / WOSU

Ohio has been gaining jobs over the last few years, and its unemployment rate hit its lowest level in 17 years a few months ago. But there are other numbers in the state’s economic overview that raise concerns for a progressive group that reviews the economy each year on Labor Day.

Vice President Mike Pence, in front of an audience of about 400 ardent supporters of his boss, President Trump, at a downtown Cincinnati hotel ballroom, spent an hour talking about a trilogy of ideas that all made his listeners very happy.

Ohio Governor John Kasich speaks during the Ohio State of the State address in the Fritsche Theater at Otterbein University in Westerville, Tuesday, March 6, 2018.
Paul Vernon / Associated Press

The state’s budget office is forecasting a surplus at the end of this fiscal year. Gov. John Kasich says he wants to take that extra money and adjust withholdings, resulting in more money in Ohioans’ paychecks.

The Trump administration is considering another big tax cut.

The administration is studying a proposal to cut capital gains taxes, a move that would primarily benefit the wealthiest Americans.

"There's been a great deal of interest in this provision for a long time," White House spokesman Hogan Gidley told reporters traveling aboard Air Force One Tuesday.

These midterm elections are hard to game out.

That's because there are a lot of factors that could cancel each other out, and there is no single issue that appears to be breaking through.

"Frankly, it is about volatility," said a Republican operative, who spoke on the condition of anonymity to be candid about strategy. "It's very volatile out there."

Protestors rally in support of the Deferred Action for Childhood Arrivals program known as DACA outside the offices of Sen. Rob Portman, R-Ohio, Sept. 5, 2017, in Cincinnati.
John Minchillo / AP

A new poll shows overall, nearly seven in 10 Ohio voters surveyed say they are very or somewhat satisfied with the way things are going in Ohio right now. They also weighed in on issues like tariffs on Chinese products and immigration.

Andrew Harnik / Associated Press

Tax cuts and immigration – two issues that promise to define Ohio’s U.S. Senate race – moved to center stage this week.

Over the weekend, President Trump made his second visit to Northeast Ohio in less than two months. While in Cleveland, he met with Republican donors, talked about tax cuts passed last year, and endorsed Republican Senate hopeful Jim Renacci.

Sammis Power Plant First Energy
FIRSTENERGY

Corporations are seeing big savings as the effects of the large federal tax cut take place. Now state energy regulators want to see if Ohio’s major utilities are going to pass those savings on to the ratepayers. It’s unknown whether the corporation tax cuts will result in lower electric bills.

Ohio U.S. Senator Sherrod Brown
J. Scott Applewhite / AP

Democratic Sen. Sherrod Brown backed a two-year budget deal that could push federal deficit spending past a trillion dollars by next year. But Brown argues GOP lawmakers are responsible for a fair share of the red ink.

Evan Vucci / Associated Press

President Donald Trump came to the Cincinnati suburb of Blue Ash on Monday to tout the Republican tax reform bill he signed into law and boast that it is already paying dividends for American workers and companies.

While the tax reform law will provide tax cuts to Ohioans, those cuts may not provide the boost needed for future economic growth. Ohio State University economist Mark Partridge says Ohio's manufacturers may see some benefit, but investment in workers will do more.

Fifth Third Bank branch
Fifth Third Bank

Fifth Third Bancorp is promising to raise its minimum wage to $15 per hour and give most of its employees a $1,000 bonus after President Trump signs the GOP tax cuts into law.

Updated on Dec. 22 on 12:02 p.m. ET

Congressional Republicans delivered on their first major legislative accomplishment of the Trump era on Wednesday, when the House voted 224-201 to pass a $1.5 trillion tax package. The bill cuts individual rates for eight years and slashes the top corporate tax rate to 21 percent permanently.

Pages