On Tuesday, the governor issued a call for a special session on Jan. 29, asking lawmakers to pass a .25-percent cut to the state’s personal income tax.
Statement from the Oklahoma Policy Institute:
Instead of grandstanding with yet another…
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Oklahoma’s tax system is upside-down, with everyday Oklahomans paying a far greater share of their income in taxes than wealthy residents. Proposals to eliminate the state’s income tax would widen this disparity, according to the latest edition of the Institute on Taxation and Economic Policy’s Who Pays?, the only distributional analysis of tax systems in all 50 states and the District of Columbia.
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By:
Emma Morris
January 8, 2024 // Updated: January 7, 2024
most Americans feeling that corporations should pay more in taxes, and most businesses prioritize public services that rely on that tax revenue; Oklahoma must maintain or increase its corporate tax revenue in coming years.
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By:
Steve Lewis
November 6, 2023 // Updated: November 6, 2023
During the decade downturn in the state’s economy, state agencies were hollowed out. When the economy turned around, the governor insisted on agencies submitting flat budget requests to the legislature and “saving” the increased revenue in various accounts. Then he used the “savings” to demand tax cuts.
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By:
Emma Morris
September 14, 2023 // Updated: September 28, 2023
NOTE: On Sept. 11, 2023, Gov. Stitt called for a special session in October 2023 to address tax reforms. One of the items included in the governor’s request was a “path to zero income tax.”
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Oklahoma should…
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By:
Paul Shinn
August 16, 2023 // Updated: November 20, 2023
While this program could make private and homeschooling more practical or affordable for a few families, taxpayers will mostly be paying for people to do what they were willing to pay for on their own. As a result, we’ll be handing millions of tax dollars to the most well-off among us while propping up private schools, whose enrollment has stagnated in recent years.
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By:
Emma Morris
August 10, 2023 // Updated: August 17, 2023
[FY 2024 Budget Highlights]
Throughout the 2023 legislative session, lawmakers discussed further reducing state revenue by cutting various taxes, with the understanding that any major tax and spending changes would only be passed as part of the state budget. As…
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[Download this report as a pdf] | [See charts] | [FY 2024 Budget Analysis]
The FY 2024 budget makes some key investments in agencies, but misses opportunities to help everyday Oklahomans.
For the fiscal year beginning July 1, 2023 (FY…
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OK Policy shares a first look at the FY2024 budget with wins, missed opportunities, and decisions that don't center the needs of everyday Oklahomans.
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• Current Tax Cut Proposals Don’t Help Most Oklahomans [Printable PDF]
With less than two weeks left in the 2023 legislative session, lawmakers have very little time remaining to reach agreement on, reveal, and adopt the Fiscal Year 2024 state…
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