An OK Policy brief titled "Let There Be Light: Making Oklahoma's Tax Expenditures More Transparent and Accountable" makes the case for increasing disclosure and scrutiny of tax expenditures, the array of exemptions, credits, deductions, and the like in the tax code that allow taxes not to be paid when they otherwise would.

A new report  from the Institute on Taxation and Economic Policy (ITEP) reveals that low and moderate-income Oklahomans pay a greater percentage of their incomes in state and local taxes than those with higher incomes. 

The full report is available here.

Oklahoma-specific results from the report are available here.

Oklahoma Policy Institute's Online Budget Guide, a comprehensive look at how Oklahoma state and local governments raise money and provide public services, is now fully available.

It's back to school for OK Policy's Stimulus update! Our August 2009 issue profiles over $425 million in new federal money available to Oklahoma's education system. 

This fact sheet summarizes the ten things you should know (but may not) about Oklahoma’s Budget and Tax System.

On June 4th, Treasurer Scott Meacham announced a mid-year FY '09 revenue shortfall in the General Revenue Fund, requiring agencies to take cuts to their FY '09 appropriations totaling $6.8 million.This OSF spreadsheet allocates the shortfall across the state agencies

With little time left in the legislative session, Oklahoma's budget is still up in the air. While a budget agreement between Governor Brad Henry and legislative leaders is imminent, a new Oklahoma Policy Institute issue brief advises state leaders to more seriously consider employing the Rainy Day Fund in FY '10.
 
The brief--"Now is the Time: Using Stimulus and Rainy Day Funds can Reduce the Impact of State Budget Cuts"--projects the state's economic condition and budget shortfalls for the next four years.

Property taxes, also known as ad valorem taxes, are the largest single local government revenue sources in Oklahoma (52 percent of local government tax revenue). Oklahoma has among the nation's lowest property taxes. Two proposals being considered by the 2009 Legislature would lower the annual cap on property tax increases. This fact sheet summarizes major elements of  Oklahoma property taxes.

Under provisions that were enacted as part of the federal stimulus bill in February, Oklahoma could be eligible for $75.9 million in federal funds for its Unemployment Insurance program that could avert or minimize tax increases and benefits cuts, provided that the state enacts modest and worthwhile changes to its program. A new brief from OK Policy looks at the UI reforms contained as part of the stimulus; what Oklahoma must do to become eligible for the additional federal funds, and why enacting these reforms is in the state’s interest.