Tax & Finance

Chair – Mr. Dick Taulbee, Western & Southern Financial Group
Co-Chair – Ms. Lee Stautberg, Esq., Dinsmore & Shohl LLP

The Tax & Finance Committee meets on an "as needed" basis.  It usually works in tandem with the Policy & Ballot Issues Committee, since much of that Committee's work includes public spending.  T&F provides context and insight on the merits of various public financing proposals important to area businesses.

If interested in joining the Tax & Finance Committee, please email Tom Ewing, tewing@cincinnatichamber.com.

Committee Dates: 

TBD

Key Issues:
State and County Tax Levies or Bond Issues
Government Spending and Efficiency
Fiscal and Monetary Policy

3rd Quarter Update:
The Tax and Finance Committee did not meet during the second quarter of 2010.

The Committee will be working with Dinsmore & Shohl, LLP to present a seminar in the third quarter to interested Chamber members on the recently enacted financial reform bill, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

The Committee will be meeting in August to discuss other pending tax legislation, including Federal, for possible seminar presentation to members as well as reviewing other items the Committee will review on behalf of the Chamber.

2nd Quarter Update:
The Tax and Finance Committee met on February 22nd to discuss: 1. Declining sales revenue in the County’s Stadium Fund; 2. Financing regional transit; 3. The use of tax levy, indigent care funds; and 4. Possible advisory role/involvement in City budget deliberations.  In addition, there was general discussion on proposed U.S. Senate “Jobs” bill and issues relating to the federal budget, deficits, national debt and related policies.

After some discussion, the consensus of the Tax and Finance Committee was that it would recommend to the Government Affairs Committee that the Chamber take a position on the issue of declining sales tax revenue in the County’s Stadium Fund as it is a significant tax impacting our community.

In regard to both financing regional transit and the use of indigent care tax levy fund as well as possible advisory role in City budget deliberations, the Committee agreed that it was best to continue to monitor these issues and provide input on an “as needed” basis.

Additionally, comment were received from Committee members regarding the impact or non-impact of tax incentives proposed in the federal Jobs Bill.  A general discussion regarding the federal budget, deficits, national debt and related topics followed.  This discussion helped form the basis for the position paper for the DC Fly-In.

With respect to next steps, the Committee reinforced its mission to provide analytic and critical analysis of tax and finance issues impacting the Cincinnati USA region.

1st Quarter Update:
The Tax and Finance Committee has not met since addressing the 2009 Hamilton County tax levies.

For 2010, the Committee is considering a review of the following:

A possible Hamilton County sales tax increase to fund the shortfall in the Stadium Fund; Changes to the funding of Metro (mass transit) Services; and, How the County Levies for indigent care are shared by health care providers.

The Tax and Finance Committee meets on an ad hoc basis.  Our next meeting is scheduled for February 22 at 8:30 a.m.  Please advise if you would like to participate.