Statement: Changes to Step Up income tax plan will bolster working families

For Immediate Release

Oklahoma Policy Institute Executive Director David Blatt released the following statement on the amendment to HB 1037, the income tax component of the Step Up Oklahoma plan, which passed out of House committee today:

The move to restore Oklahoma’s Earned Income Tax Credit and other changes in this amendment will make it easier for low- and middle-income Oklahomans to support themselves and their families. These changes will ensure a more balanced tax code by helping those families who pay the biggest percentage of their earnings in sales and property taxes, while strengthening our investments in education and thriving communities.

Oklahoma can do even more to restore balance to the tax code, close loopholes, and invest in our communities by restoring a higher top rate for very high incomes and ending the expensive, ineffective capital gains exemption.