1. United States
2. Ohio
3. Letter

I am writing to express my firm opposition to House Bill 617, the "Ohio Capital Gains Tax Repeal Act." While proponents want to frame this as a modernization of our tax code, it is in reality a predatory shift that allows the wealthy to opt-out of supporting the society that made their success possible. By eliminating taxes on investment income, this bill effectively shifts the financial burden of maintaining Ohio’s infrastructure, schools, and public safety away from the wealthiest citizens and onto the backs of the middle and working class. That is not how we build a great nation. The strength of America—and Ohio—has always been rooted in the prosperity of the many, not the insulation of the few. I urge you to consider the following points as this bill moves through committee: - The Reciprocity of Success: No individual achieves great wealth in a vacuum. The wealthy utilize our public roads to ship goods, our public education system to find skilled employees, and our judicial system to protect their interests. It is only right that they pay their fair share to maintain the system that made their success possible, ensuring the same ladder of opportunity exists for the next generation. - The Economic Engine: The middle and working classes are the true engines of Ohio’s economy. When we hollow out the General Revenue Fund by as much as $645 million annually (as the LSC recently projected), we inevitably face cuts to services or increases in sales and property taxes—costs that disproportionately hurt everyday families who spend the majority of their income back into the local economy. - Long-Term Stability: History shows that a healthy, stable society requires a robust middle class. A tax code that favors passive investment over hard-earned wages creates a divide that is ultimately bad for everyone—including the wealthy, whose long-term interests are best served by a functional, educated, and happy citizenry. While proponents at the March 24th Statehouse briefing argued that capital is mobile, the reality is that our communities are not. We cannot afford to lose over $600 million in annual revenue just to court investors who are already benefiting from our state's infrastructure. We should be investing in the people who live, work, and raise families in Ohio, not providing a windfall for those who can afford to move their money at the click of a button. I ask that you vote NO on HB 617 and instead focus on tax policies that provide relief to the working people who are the heartbeat of this state.