Topic: Budget & Tax

What the coming federal budget cuts could mean for Oklahoma

By: Gene Perry
January 24, 2012 // Updated: May 1, 2019
Election news may soak up a lot of the attention this year, but we shouldn’t lose sight of the major policy changes set to go into effect no matter who wins in November. High among those are the automatic budget… Read more [More...]

Why the Laffer proposal is like an ice cream diet

By: Gene Perry
January 18, 2012 // Updated: May 2, 2019
Some Oklahoma politicians have trumpeted a report by economist Arthur Laffer to claim that eliminating the state income tax will fuel an economic boom. Laffer is best known for the Laffer Curve, which he famously sketched on a napkin while… Read more [More...]

Who are the real losers in the tax shift plan? It's not "special interests"

By: Gene Perry
January 16, 2012 // Updated: May 2, 2019
[UPDATE: A previous version of the graph left out the Child Tax Credit from the list of broad-based credits that make up the 68 percent.] In a recent interview with KWGS, tax reform task force co-chair Senator Mike Mazzei argued:… Read more [More...]

Task force proposal would raise taxes on most Oklahomans, especially harm seniors and families with children

By: Gene Perry
January 11, 2012 // Updated: May 2, 2019
A proposal by the legislature’s tax reform task force would raise taxes for most Oklahomans, with the worst impact on low-income seniors and families with children, according to a new fact sheet from the Oklahoma Policy Institute. The task force… Read more [More...]

The Tax Shift: Income tax proposal would hike taxes for most Oklahomans

By: Oklahoma Policy Institute
January 10, 2012 // Updated: May 2, 2019
A new fact sheet released today by the Oklahoma Policy Institute shows that the legislature’s tax reform task force proposal would raise taxes for 55 percent of Oklahomans. Low-income seniors and families with children would be especially harmed by the… Read more [More...]

Task Force proposes tax hike on poor and middle class to benefit the wealthiest

By: Gene Perry
December 30, 2011 // Updated: May 2, 2019
This afternoon, the Senate Task Force on Comprehensive Tax Reform released its final report. The most significant recommendation is to make further cuts to the top rate and replace that revenue by ending numerous tax credits. Almost two-thirds of the… Read more [More...]

Growing disconnect between budget politics and reality

By: Paul Shinn
December 29, 2011 // Updated: May 1, 2019
Last week we reported that next year’s revenues are expected to be 7 percent below their levels of six years ago (FY ’07), even though costs are higher due to inflation, population growth, and increased caseloads Elsewhere, people seem to… Read more [More...]

Revenue forecast confirms need for caution

By: David Blatt
December 21, 2011 // Updated: May 1, 2019
On Tuesday, the Board of Equalization certified a preliminary estimate of the revenues available for next year’s budget. The numbers confirm that while the worst of the fiscal crisis is over, the state is experiencing a slow, incomplete recovery that… Read more [More...]

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

By: Gene Perry
December 14, 2011 // Updated: May 2, 2019
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...]

Report tracks how large corporations avoid state taxes

By: Gene Perry
December 7, 2011 // Updated: May 2, 2019
A comprehensive new study finds that many consistently profitable companies are paying little to no corporate income taxes on those profits. Out of 265 Fortune 500 companies examined, 68 managed to pay no state income tax in at least one… Read more [More...]