Ramaswamy Vows To Scrap Ohio Income Tax To Rival Texas and Florida

Vivek Ramaswamy the biotech mogul turned GOP gubernatorial hopeful has pledged to abolish Ohio’s state income tax if elected in 2026 aiming to make the Buckeye State a magnet for business and families like its southern rivals Texas and Florida. The Cincinnati native unveiled the bold plan at a campaign kickoff arguing the tax cut would jolt Ohio’s economy and halt population decline. With no prior political office Ramaswamy casts himself as a fresh outsider ready to shake up a state he says has lost its edge.

Ramaswamy pointed to Ohio’s sluggish job growth and shrinking tax base as justification for drastic action. He noted Texas and Florida both income-tax-free states have lured companies and residents away with lower costs and pro-business climates. Ohio’s current income tax tops out at 3.99 percent a burden he claims drives talent elsewhere.

The candidate framed the move as a return to Ohio’s industrial glory days when it led the nation in innovation and prosperity. He argued that eliminating the tax would attract manufacturers and tech firms creating a ripple effect of jobs and investment. Critics question how he’d offset the lost revenue estimated at $13 billion annually.

Ramaswamy suggested deep cuts to state spending and a reliance on sales tax to fill the gap though details remain sparse. He touted his private-sector success at Roivant Sciences as proof he can streamline government without slashing vital services. Skeptics warn of potential budget chaos and cuts to education or infrastructure.

Supporters see the tax abolition as a game-changer for a state bleeding residents to sunnier climes. Ohio lost over 20000 people net in 2023 while Texas and Florida gained hundreds of thousands census data show. Ramaswamy insists bold moves are needed to reverse decades of economic stagnation.

The proposal has drawn cheers from business leaders and jeers from unions who fear reduced public sector funding. Ramaswamy brushed off detractors saying Ohio must compete not coddle outdated systems. His campaign leans heavily on Trump’s endorsement signaling a populist bent that could sway GOP primary voters.

Rivals like Attorney General Dave Yost have blasted the plan as reckless accusing Ramaswamy of quitting Trump’s DOGE team too soon to prove his mettle. Yet the outsider’s brash vision taps into voter frustration with the status quo in a state Trump won handily. The tax pledge sets up a fierce primary clash over Ohio’s future.

If Ramaswamy wins and delivers the tax cut it could reshape Ohio’s economy and political landscape for decades. Whether the gamble pays off or flops hinges on his untested ability to govern a state of 11.7 million. For now his vow to emulate Texas and Florida has jolted the race wide open.