OKPOLICY.ORG
An OK Policy issue brief explains why proposals from some state leaders to repeal or reduce the state’s income tax are ill-advised. Its main findings:
- The income tax is the single largest state revenue source, accounting for nearly one of every three dollars in state tax collections.
- Oklahoma is out-competing most states that lack an income tax.
- Oklahoma’s income tax rates are not a hindrance to the state’s business climate or a spur for people to move out of state.
- Shifting to greater reliance on other taxes would disadvantage local business, create more risk of revenues not being adequate to needs, and put a disproportionate burden on low- and moderate-income Oklahoma families.
- After three years of repeated cuts to the state budget, the state has fallen further behind in funding core public services, and we face growing obligations in years ahead. In this context, cutting the income tax is the wrong priority for Oklahoma’s future.
Click here for the full 8-page issue brief.
Click here for the 1-page summary, “9 Reasons Why Oklahoma Should Preserve the State Income Tax.”
Find more presentations, fact sheets, blog posts, op-eds and newspaper articles addressing Oklahoma’s tax reform debate here.
