Oklahoma Policy Institute released the following statement in response to the announcement that there will be no tax cut this session:
The failure of every tax cut proposal that was debated this session is a victory for Oklahoma. The Legislature heeded Oklahomans from all walks of life who have spoken out against income tax cuts. After three straight years of budget cuts that have seriously weakened core services, Oklahomans have stated clearly that their top priorities are restoring funding for education, fixing the child welfare system, repairing our roads and bridges, and making other critical investments that will promote our prosperity and security. We have not made sufficient progress towards these goals, but preserving our largest revenue source leaves us in much better position to tackle our challenges in the years ahead.
The decision to reject tax cuts this year was especially responsible given the uncertainties in the energy industry and the broader state economy. We applaud those leaders who insisted that tax cuts must be paid for and who rejected efforts to tie the hands of future legislators with automatic triggers.
We know, however, that this is just a brief intermission in a long battle over the right tax policy for Oklahoma. Going forward, we must have a more honest and well-informed debate about what we expect from state government, how much our obligations will cost, and how we will pay for them. We need to look with renewed seriousness at our outdated tax system and do away with unnecessary tax preferences. And we must improve tax fairness and not allow middle- and low-income families to shoulder a larger share of the load.