What the horizontal drilling tax break is costing your kids’ school

drilling-educationFor Oklahoma’s elected officials looking to increase funding for education, the sensible solution can be found right under our feet. By doing away with what has become an increasingly unnecessary and unaffordable tax break, every school district and every school child in Oklahoma would benefit

A new set of fact sheets released today by Together Oklahoma, based on data from OK Policy, shows how much additional funding each school district in Oklahoma could receive if the increasingly costly and unjustified tax break for horizontal drilling was eliminated and the money was used instead to boost public education. (more…)

Filling the Budget Hole: Options for a Balanced Approach

Despite a drop in revenue certified as available for next year’s budget, a new report from Oklahoma Policy Institute shows that budget cuts are not inevitable. Lawmakers have numerous feasible revenue options that they can use to fill the budget hole.

Appropriations-08-15-CPIadjustedThe report, “Filling the Budget Hole: Options for a Balanced Approach” lays out seven options that state policymakers should consider as part of budget discussions this session:

  • Curbing the tax break for horizontal oil and gas production
  • Eliminating the “double deduction” of state income taxes
  • Adopting combined corporate reporting
  • Enhancing tax collection from online sales
  • Tapping the Rainy Day Fund
  • Maintaining transportation funding at current levels
  • Accepting federal funds to expand health coverage

Click here for the full-length brief

Click here for the 2-page Executive Summary

Click here for the blog post (with links to more detailed discussion of each revenue option)

Click here for the press release