Lawmakers voted down a corporate income tax cut this spring. Leadership should leave it out of the budget.

NOTE: Policy Fellow Josie Phillips contributed to this analysis Cutting the corporate income tax — which was proposed in the failed House Bill 4358 — overwhelmingly benefits wealthy and out-of-state corporations over everyday Oklahomans and locally owned businesses. The Senate… Read more [More...]

Personal income tax cuts won’t deliver relief to low- and middle-class Oklahomans

Cuts to the individual income tax rate are unfair to low- and middle-class families since they return the largest benefit to the wealthiest Oklahomans. Tax cuts now can devastate state revenue and funding for services like public education in future years. [More...]

Legislators have an opportunity to make a down payment on the state’s future

Oklahoma is in a unique position this year to make a downpayment on the future of our state. Premature tax cuts will set the state up to fail; investments will allow us to thrive.  [More...]

Cutting taxes this year would be short-sighted and harmful

This legislative session, the Oklahoma legislature is set to consider several proposals that would significantly cut state revenue. Rather than cutting taxes, legislators must consider the state’s long-term fiscal health and its structural deficit by maintaining revenue streams this year and for years to come. [More...]

A welcome budget turnaround, but not a long-term recovery plan: A first look at Oklahoma’s new state budget

The $8.3 billion budget represents a modest increase from last year’s pandemic low. However, rather than trying to change Oklahoma’s overall trajectory through smart spending choices, lawmakers enacted tax cuts that will largely benefit out-of-state corporations, high-income households, and special interests. [More...]

We have better options than a costly and poorly-targeted income tax cut

Lawmakers should set aside both of these bills and have a broader discussion about whether it's more important to broadly cut taxes than to provide public services, invest in our state’s future, save for the next economic downturn, or provide better-targeted tax reduction. [More...]

Want to reduce Oklahoma’s public services, hurt local business, and shrink our economy? Eliminate the corporate income tax!

Oklahoma’s corporate income tax is good public policy. Forty-four states have corporate income taxes like Oklahoma’s, and all but two of the remaining states tax business revenues. [More...]

No matter how we fund it, Medicaid expansion will be the best investment we’ve ever made

Oklahomans on June 30 approved State Question 802, which amended the Oklahoma Constitution to expand Medicaid to low-income adults. Now it’s time to take the next step in implementing that promise. Funding expansion will be a key issue for the Legislature to tackle this spring. [More...]

More of the Same: Corporate tax avoidance hasn’t changed much under 2017 tax law (Guest Post: Matthew Gardner)

A new report from ITEP shows that, based on the first year of financial reports released by companies operating under the new tax law, tax avoidance appears to be every bit as much of a problem under the new tax system as it was before the 2017 tax law took effect. [More...]

Oklahoma’s spending on senior tax breaks is costly and poorly targeted

Tax breaks for seniors cost Oklahoma an estimated $310 million annually and do little to help the seniors most in need, according to a new report from the Center on Budget and Policy Priorities. [More...]