Tag: tax breaks

A response to The Oklahoman

A shorter version of this article was submitted to the Oklahoman as a letter to the editor. The version below was originally submitted as an op-ed, which The Oklahoman declined to publish.  A recent Oklahoman editorial takes issue with a… Read more [More...]

Unnecessary and Unaffordable: The case for curbing Oklahoma’s oil and gas tax breaks

Oklahoma should eliminate tax breaks for the oil and gas industry that are no longer needed and are threatening the state’s fiscal stability by squeezing out resources for schools, roads, public safety, and other keys to long-term economic growth, according… Read more [More...]

The tax expenditure reform dog: Still not barking

Four months ago, a legislative task force chaired by Rep. David Dank and Sen. Mike Mazzei laid out an ambitious agenda for reforming Oklahoma’s tax expenditures. The group’s recommendations included ending tax credit transferability, enacting caps, sunsets, and regular audits… Read more [More...]

Stand back, we don’t know how big these things may get

In the final days of the 2010 session, when legislative leaders were faced with historic revenue shortfalls and were desperate for ways to balance the budget, a deal was struck with representatives of the energy industry on oil and gas… Read more [More...]

Oklahoma ranked 6th in the nation for tax break safeguards, but serious gaps remain

States are spending billions of dollars per year on corporate tax credits, cash grants and other economic development subsidies that often require little if any job creation and lack wage and benefit standards covering workers at subsidized companies. These are… Read more [More...]

Keeping tabs on tax breaks

This post originally appeared on Oklahoma Watch as part of their Oklahoma Voices series. The legislative task force that has been studying tax breaks will vote on final recommendations at its November 30 meeting. Also appearing today on our blog… Read more [More...]

From the Archives: I don't need it but I'll take it – Revisiting oil and gas tax breaks

Note: This afternoon, the Task Force for the Study of State Tax Credits and Economic Incentives will be examining gross production tax exemptions. This blog post on the subject initially ran in March 2011. A recent news report examining proposals… Read more [More...]

Tax Breaks: Setting out the case for and against

Note: The Task Force for the Study of State Tax Credits and Economic Incentives, created by HB 1285, is meeting over the interim to scrutinize tax credits. This blog post excerpts an OK Policy issue brief from last year titled… Read more [More...]

I don't need it but I'll take it – Revisiting oil and gas tax breaks

A recent news report examining proposals to limit the federal tax deduction for charitable giving concluded with a comment that gets to the crux of the debate over tax breaks: As one donor explained, he doesn’t give to charity to… Read more [More...]

Over a barrel: HB 2432 makes a flawed system of oil and gas tax subsidies even worse

In their efforts to find additional revenues for the upcoming budget year, legislative leaders and Governor Henry took some strong and politically risky steps to suspend tax credits for various forms of economic activity. But when it came to tax… Read more [More...]