Tag: triggers

Flawed trigger proposal language could create serious unintended problems

In addition to an immediate cut in the top income tax rate from 5.25 to 4.8 percent,  the tax plan agreed to last week by Governor Fallin and legislative leaders includes an automatic future tax cut tied tied to revenue… Read more [More...]

Tax cut proposal Q & A

NOTE: This post has been updated as new information becomes available Yesterday, the Governor and legislative leaders announced agreement on a ‘joint proposal for income tax reduction and tax code simplification’. (Click here for a summary and here for HB… Read more [More...]

Business leaders urge rejection of tax triggers

As reported in CapitolBeatOK, a group of 30 prominent business executives, civic leaders and philanthropists recently sent an open letter to the Governor, Speaker and Senate Pro Tem urging them not to adopt a trigger mechanism that would lead to… Read more [More...]

Politicians make bad fortune-tellers

A key question in the income tax debate has been whether tax cut supporters were taking a “responsible” approach in their proposals. They have worked hard to convince Oklahomans that we can afford tax cuts without disrupting core services. Revenue… Read more [More...]

The terrible thing about triggers

Lawmakers began the year promising large, immediate cuts to the income tax, but their hopes soon collided with budget reality. With state funding already falling behind Oklahoma’s needs in many areas, legislators have found no easy way to pay for… Read more [More...]

Stop digging! Top income tax rate cut should be suspended until revenues have recovered

Even assuming that we are in the early stages of what will eventually be a robust economic recovery, Oklahoma’s budget crisis is not going to end anytime soon. Revenue collections this year and next are projected to come in 20… Read more [More...]