Tax break for petroleum passes House, despite urging of other industry groups
How much do House GOP members love the petroleum industry? So much that they ignored the pleadings of several other industry groups opposed to a new tax break included in the transportation budget, which was passed by the Ohio House of Representatives today. An amendment to remove the tax benefit and earmark the proceeds of the tax to public transit was defeated along party lines.
A letter signed by the Ohio Manufacturers’ Association, the Ohio Society of CPA’s, the Ohio State Medical Association, the Ohio Dental Association and the Chemistry & Technology Council pleaded with House Speaker Batchelder to resist any attempts by special interests trying to get their product or service exempted from the Commercial Activity Tax (CAT). ”As original proponents of the tax reform package in 2005, we have worked tirelessly to reiterate to lawmakers the importance of maintaining a broad-based tax code, with the lowest possible tax rate,” read the letter. Arguing that carve-outs eventually erode the tax base, the groups expressed concern that eventually the tax will be so riddled with loopholes that it will not raise sufficient revenue and those left paying the tax will be hit with a higher rate.
Congratulations to the Petroleum dealers. Looks like your campaign donations were well-spent.
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