OKPOLICY.ORG
Oklahoma has a tax credit on the books designed to help low- and middle-income families, but the amount of the credit hasn’t been adjusted in more than three decades. On Thursday evening, the Oklahoma Policy Institution and its grassroots advocacy program Together Oklahoma will host a virtual town hall so Oklahomans will learn how they can increase the value of their Sales Tax Relief Credit for tax savings.
The virtual town hall will be held at 6 p.m., Thursday, May 9. Click here to register for the free event.
The Sales Tax Relief Credit was created in 1990 as a relief for low- and moderate-income residents. The value was set at $40, but hasn’t been adjusted since. Lawmakers can greatly expand its impact by increasing the value of the Sales Tax Relief Credit from $40 to $200 per person per household, as well as raising eligibility requirements to reflect rising costs over the last three decades.
As lawmakers look for ways to bring financial relief to Oklahomans, expanding the Sales Tax Relief Credit should be first on the list because it’s the most affordable, targeted, and efficient way to do so, said OK Policy Executive Director Shiloh Kantz.
“Now is the time to give tax relief to hardworking Oklahoma families,” Kantz said. “As lawmakers are finalizing next year’s state budget, the financial needs for Oklahoma families — especially low- and middle-income families — should be the first item addressed within the budget process. That’s where the Sales Tax Relief Credit helps most. It delivers targeted relief to the everyday Oklahomans who need it.”
If lawmakers expand eligibility for the Sales Tax Relief Credit and increase its value, 576,000 Oklahoma households — more than half of whom are seniors — would see a tax benefit, said OK Policy’s Outreach and Legislative Director Angela Monson.
“Modernizing the Sales Tax Relief Credit is the most fiscally responsible and effective way to deliver targeted relief for the Oklahoma families who need it most,” Monson said.
During Thursday night’s event, OK Policy and Together Oklahoma staff will share everything advocates need in order to advocate for updating and expanding the credit to help themselves and their loved ones.
With only a few weeks left in this year’s legislative session, the clock is ticking on how advocates can contact lawmakers to push for expanding the Sales Tax Relief Credit. Residents who attend the Sales Tax Relief Credit virtual town hall will be provided resources and tools so they’re able to easily and confidently contact their own Senator and Representative to ask for this important update.
Join us online from the comfort of your own home this Thursday. The event is free, but registration is required.
In addition to the virtual town hall, OK Policy and Together OK will be hosting in-person community meetings this week, as well:
Wednesday, May 8, 6:00-7:00 p.m.
- Ardmore: Ardmore Public Library [The Smith Room] | 320 E. Street, Ardmore, OK
- Stillwater: Stillwater Community Center [Room 121] | 315 W. 8th Ave Stillwater, OK
Saturday, May 11, 11 a.m.
- Tulsa: Kendall-Whittier Public Library | 21 S. Lewis, Tulsa, OK
In the meantime, learn more about the Sales Tax Relief Credit by visiting OKPolicy.org/STRC or view our county-by-county interactive map at OKPolicy.org/STRC-map to see how expanding the credit will impact your community.
