"T" Stands for Tax Policy
JET Policy PAC supports Ohio legislators and elected officials that seek to bolster job creation and capital investment in Ohio through the adoption of a quality tax system and efficient government programs. Our tax policy advocacy is guided by five characteristics indicative of a quality tax system: Simplicity, Equity, Stability, Neutrality and Competitiveness.
- Simplicity – Ohio’s state and local tax system should be simple. Simplicity lowers the cost of compliance for taxpayers, which effectively reduces unnecessary tax burdens. It also reduces the government’s cost to administer the tax system.
- Equity – Equity is an important element of a quality tax system and our focus is on two types of tax equity.
* Horizontal Equity exists when the tax system imposes similar burdens on similarly situated taxpayers.
* Vertical Equity exists when the tax system recognizes differing abilities of various taxpayers to pay.
- Stability - The tax system exists to fund essential government services and should provide adequate revenue to fund those services in both good and bad economic times.
- Neutrality - The tax system should not unduly influence economic behavior. The economy and the marketplace, not the government's tax policy, should drive business decisions.
- Competitiveness - The tax system is a meaningful part of a state's living, working, and business environment. It should not impose excess burdens on taxpayers and job creators, particularly as compared to the tax systems of other states and other parts of the world.
While no tax system is perfect, the use of these five characteristics of a quality tax system will help achieve an effective, balanced, and competitive tax system for Ohio. The JET Policy PAC recognizes that Ohio's current tax system violates these characteristics in many ways, which elected officials should address.