Proposed capital gains tax sparks controversy

It appears Ohioans will be talking about a capital gains tax cut around the time they elect their next governor.

State lawmakers pushed the issue into the campaign last week when the House Rules Committee moved on a proposal to reduce top income tax rates on capital gains from seven percent to three percent. The bill is scheduled for hearings in late July.

Democrats denounced the action as a way to draw attention to Republican candidate for governor Kenneth Blackwell.

But House Speaker Jon Husted says there’s nothing political about it, which is why he selected term-limited lawmakers to sponsor the bill and run the hearings.

Ohio Democratic Party Chairman Chris Redfern says moving on the bill during the summer, with a vote possible in the fall, is an “election-year gimmick.”

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