UPDATED CONCERNS: HB 617 – The hidden costs to Ohio’s working class

I am following up on my previous correspondence regarding HB 617. As the House Ways and Means Committee continues to debate this bill, I am writing to highlight three specific, high-risk nuances that have become even more concerning: 1. The Property Tax Backdoor Hike: The projected $645 million annual revenue loss from this bill won't simply vanish; it will create a vacuum. When state funding for the Local Government Fund is inevitably cut to cover this shortfall, Ohio’s cities and townships will be forced to raise local property taxes. HB 617 isn’t just a tax cut for investors; it’s a future tax hike for every Ohio homeowner. 2. Devaluing Labor vs. Capital: Under HB 617, a firefighter or teacher in Columbus will pay a higher effective tax rate on their hard-earned salary than a wealthy investor pays on their passive dividends. This devalues the dignity of work and creates a two-tiered system where those who build our state with their hands subsidize those who merely move money between accounts. 3. Economic Volatility: Given the current market shifts in 2026, stripping away a stable revenue stream is fiscally irresponsible. Depleting our General Revenue Fund now risks Ohio’s credit rating and leaves us vulnerable to the next economic downturn, potentially forcing emergency service cuts when citizens need them most. I urge the committee to look past the "modernization" rhetoric and see HB 617 for what it is: a shift in the burden of citizenship away from those most able to pay and onto the backs of Ohio’s workforce. Please vote NO on HB 617.