Once again this session, property tax cuts are on the table in Oklahoma. Although curtailing Oklahoma’s already low property taxes with additional freezes and caps may sound appealing, a better approach would target help to people who need it without…
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Unless the legislature acts to stop it, another state income tax cut will take effect January 1, 2012. When the cut is fully phased-in, revenues will be reduced by $120 million. An Oklahoma Policy Institute fact sheet shows that the…
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[UPDATE: You can download ITEP’s analysis here.]
Yesterday the Senate voted to abolish the state income tax after Sen. Tom Adelson (D-Tulsa) introduced the measure as an amendment to another bill. With public services heavily dependent on income tax and…
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When the Board of Equalization met last week and certified more revenue for the upcoming fiscal year, there was one word on everyone’s mind: Oil. Of the total $106 million increase in the February estimate compared to the Board’s initial…
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The state appropriated budget in relation to the size of the state’s economy has been in long-term decline and this decline has accelerated sharply in recent years. 2011 marks the lowest percentage of state appropriated spending as a share of…
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By:
Kate Richey
February 23, 2011 // Updated: May 1, 2019
The State Board of Equalization met yesterday to certify revised revenue estimates and appropriations authority for the upcoming year’s budget. Not yawning yet? Then do we have a 6-minute video blog post for you!
For the full Board of Equalization…
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By:
Gene Perry
February 22, 2011 // Updated: May 2, 2019
Oklahoma’s tax system is broken. Despite a recovering economy, the state is unable to raise enough revenue to sustain core public services. The strains will only increase over time as we cope with a rapidly aging population, unfunded pension obligations,…
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The sales tax is the largest single source of state and local tax revenue but is increasingly falling short. An Oklahoma Policy Institute issue brief argues that sales tax reform is needed to ensure a fair, rational and stable tax…
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By:
David Blatt
February 15, 2011 // Updated: May 1, 2019
The latest monthly report of General Revenue (GR) collections announced by Treasurer Ken Miller provided the strongest indications yet that state revenues are on a firm path to recovery. For the 11th time in the past 12 months, monthly revenue…
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By:
David Blatt
February 14, 2011 // Updated: May 2, 2019
“Imagine never having to file an Oklahoma income tax form again, and having no more state income tax withheld from your paycheck.” This is the scenario floated recently in a press release by David Dank, the Chair of the House…
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