Ohio – A sweeping new economic plan aimed at easing financial pressure on families across Ohio is drawing attention — but also raising a fundamental question: how will it be paid for? Amy Acton, a Democratic candidate for governor, has introduced a wide-ranging “Affordability Plan” that promises tax relief, debt forgiveness, and consumer protections. Yet despite the scope of her proposals, key financial details remain unclear, leaving voters and analysts trying to piece together the true cost.
Acton’s campaign has offered only limited guidance on funding. Spokeswoman Addie Bullock stated that “Acton will close tax loopholes for the ultra-wealthy,” but provided no further breakdown of what that would mean in practice or how much revenue it would generate.
Big promises, unclear price tag
At the heart of Acton’s plan are several tax credit proposals designed to support working families. These include a child tax credit worth $1,000 per year for children under six and $500 annually for children ages 7 to 18, available to families earning up to $85,000. The plan also includes a refundable earned income tax credit, allowing lower-income households to receive money back even if they owe little in taxes.
While these ideas could offer meaningful relief, they come with a measurable cost. An analysis found that the tax credit proposals alone could reduce state revenue by around $1 billion each year. The child tax credit accounts for the bulk of that figure, with estimates placing its cost at $809 million annually. The earned income credit could reduce revenue by an additional $173 million to $231 million…