A federal appeals court yesterday reinstated an antitrust lawsuit against Duke Energy. The lawsuit accuses Duke of paying kickbacks to local companies in order to gain support for a 2004 electric rate increase. The lawsuit alleges that Duke appeased the more powerful opposing companies by including rebate deals for them. The suit is seeking unspecified damages and seeks to represent all Ohioans affected by the rate increase.
Todd Portune is continuing his quest to become the East Side's county's property tax rebate savior, yesterday offering a new idea to bail out the stadium fund: extend the half cent sales tax past 2032. The revenue created by extending the sales tax, which has no sunset clause, would repay loans the county could use to pay for maintenance and projects at the stadiums now. Republican Commissioner Chris Monzel is open to “any ideas,” though Democratic Commissioner Greg Hartmann says otherwise:
“Todd, here we go again,” snapped Commissioner Greg Hartmann. “Walking away from these leases is just fantasyland.
“How many times are we going to do this?” he asked.
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The Senate will vote on a gender pay equity bill today.
China and Russia say they'll help the UN more going forward, though they've been supporting Syria more than anyone really wants them to.
Here's an explanation of the Transit of Venus, for those who don't get it yet.
Nintendo has revamped its Wii to try to lure gamers from free Internet games they play on iPads.
A new PC virus can infect computers by imitating a Windows update.
A nonpartisan think tank that advocates for poor and working class families is urging that Ohio adopt its own version of the federal Earned Income Tax Credit (EITC).
The group, Policy Matters Ohio, said a state version of the federal tax credit, set at 10 percent, would divert just $210 million from Ohio’s coffers but would benefit 949,000 low-income working families across the state. Such a credit would provide families with an average of $221 each, which Policy Matters Ohio described as “modest but helpful.”
Currently 24 states and the District of Columbia have Earned Income Tax Credits, ranging from 3.5 percent to 50 percent of the federal credit.
“A state EITC program enables families to work and build assets while reducing the impact of regressive income tax changes,” said a statement released by Policy Matters Ohio.
“A state EITC makes sense because recent changes to the personal income tax have provided greater tax reductions for higher-income earners than they have for lower- and middle-income families,” the statement continued.
The federal EITC is a refundable tax credit for low- and medium-income individuals and couples, and is considered the nation’s largest poverty relief program. When the credit exceeds the amount of taxes owed, it results in a tax refund to those who qualify and claim the credit.
To qualify for the EITC, a recipient must have earned income of $49,000 or less. The credit is worth significantly more for families with children and is refundable, which means families receive cash refunds above their tax liability.
Created in 1975, the federal EITC is aimed at helping lift families with children about the poverty level, along with offsetting the burden of Social Security taxes and maintaining an incentive for people to work.
In Ohio, 949,692 people currently claim the federal EITC. The credit generates $2.1 billion for state residents, and the average refund is $2,211.
Founded in 2000, Policy Matters Ohio is a nonprofit, nonpartisan policy research organization that seeks to create “a more prosperous, equitable, sustainable and inclusive Ohio,” through research and policy advocacy.
Based in Cleveland and Columbus, the organization is funded primarily through grants from groups like the Ford Foundation, the Sisters of Charity Foundation, the Center on Budget and Policy Priorities, the Corp. for Enterprise Development and others.