A bill to eliminate Ohio's estate tax in 2013 passed a Senate committee yesterday, a move local governments see as another potential blow to their already strained budgets.
But supporters say it's time for Ohio to eliminate a tax that they say drives wealthy seniors out of the state.
"Repealing Ohio's death tax will help keep more of our family farms in business, and it will also help keep more of our small business owners and the jobs they create here in Ohio," said Sen. Kris Jordan, R-Powell, the sponsor of Senate Bill 90.
An identical bill passed a House committee in mid-February but has not yet come up for a full House vote. GOP leaders in the House and Senate say they want to eliminate the estate tax, but they first want to finish up the two-year budget to get a clear understanding of the cuts that governments will face. More....