For Immediate Release
Oklahoma Policy Institute Executive Director David Blatt released the following statement on the apparent failure of the HB 1033XX revenue bill:
Today, lawmakers on both sides of the debate agreed about one thing: Oklahoma desperately needs to increase revenues to pay for a teacher raise and save Oklahoma’s core services. With so much that we agree on, it will be a historic tragedy if Oklahoma lawmakers cannot reach a solution.
Thousands of Oklahomans showed up to the Capitol today hoping for better, but they were disappointed. Those who are teachers and state employees will show up at work tomorrow to continue serving Oklahomans while being paid far less than they are worth. Our lawmakers must show up to continue their work until a substantial revenue plan gets the votes.
Lawmakers still have good options for revenues with bipartisan appeal. On top of the revenues included in HB 1033, sensible solutions include increasing the gross production tax incentive rate to at least 5 percent and ending the expensive, ineffective capital gains exemption. Despite today’s setback, Oklahoma has good policies to pay for a teacher raise, restore the Earned Income Tax Credit for working families, save critical health services, and stabilize our state budget.