Topic: Budget & Tax

Tax credits are anti-poverty tools | Oklahoma Senate Interim Study | Oct. 10, 2024

Targeted tax credits can be used as a tool to fight poverty in Oklahoma. The tax system is a critical part of the safety net with more than a third of all public support for U.S. families delivered through tax provisions. Hence, tax credits can drastically decrease poverty. [More...]

Fiscal Year 2025 Budget Highlights

In nominal dollars, this year's Oklahoma budget is the largest in state history. However, in real dollar value, it has lost a lot of its buying power when adjusted for inflation and population growth. [More...]

Oklahoma should adopt IRS Direct File

Oklahoma can opt in to Direct File for the 2025 tax season, which would offer taxpayers free and easy filing by integrating our state online tax filing tool. [More...]

Fact Check: Will Oklahoma families save $800 a year from eliminating the state portion of the grocery sales tax?

On Aug. 14, Gov. Kevin Stitt said that Oklahoma would again not be participating in a summer food program for hungry schoolchildren. In that announcement, his spokesperson suggested it was not necessary, in part, because "Governor Stitt delivered for families by signing the grocery tax elimination bill, saving Oklahomans an average of about $800 per year at the grocery store." Our fact check shows this is not true. [More...]

National study: Undocumented immigrants contribute $227M in Oklahoma taxes a year

In Oklahoma, undocumented immigrants contributed $227.5 million in state and local taxes in 2022. Undocumented immigrants pay higher state and local tax rates (8.9%) than the top 1 percent of Oklahoma households (6.4%). [More...]

Eliminate justice-related fees and invest in Oklahoma’s justice system

If Oklahoma's lawmakers are serious about improving public safety, they should focus their efforts on eliminating justice-related fees and fines. Doing so would help justice-involved Oklahomans and improve public safety, provide stable funding for essential public safety services, and would be a cost-effective investment for our justice system. [More...]

Policy Matters: Steps to improve budget transparency next session

This legislative session, lawmakers placed great emphasis on budget transparency. It’s been revealing to watch the process unfold, but there are steps lawmakers can take to build on this progress for next year. Throughout May, legislative leaders and the governor… Read more [More...]

Statement: Elimination of grocery sales tax is far too little support for low- and middle-income families

While elimination of the state portion of the grocery sales tax provides a measure of financial relief to some Oklahomans, it’s far too little support for our low - and middle-income families and seniors who need it most.  [More...]

National experts say Oklahoma is part of a damaging tax-cutting trend

Attempts by Oklahoma elected officials to reduce or eliminate the state’s personal income tax are part of a national tax-cutting trend that could undermine funding for the shared services that can move our state out of the bottom 10 states for quality of life and overall well-being for all Oklahomans. [More...]

Comments from OK Policy’s Shiloh Kantz, on Jan. 24 National Press Call about Cutting State Taxes

Media Release: National experts say Oklahoma is part of a damaging tax-cutting trend For more information, contact Dave Hamby, Oklahoma Policy Institute, (918) 810-0182, dhamby@okpolicy.org – – – During the past few decades, Oklahoma has become one of the nation’s… Read more [More...]