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