Budget Briefing: Income Tax Cut Announcement Coming Today, Officials Say

In the news this morning:

Oklahoma Personal Income Tax-Cut Announcement Expected Thursday – “Closed-door negotiations to lower the state’s personal income tax rate continued Wednesday evening between legislative leaders and the governor’s staff. An agreement ideally would have to be reached by Friday to get legislation filed and acted on before lawmakers are required to adjourn by 5 p.m. May 25. Setting an income tax rate and agreeing on how to make up for the lost revenue are key factors in adopting a budget for the 2013 fiscal year, which starts July 1.” NewsOK.com

Group of 30 State Leaders Oppose “Tax Trigger Mechanisms” – “The letter bore the names of some of Oklahoma’s best-known citizens, including conservative-leaning businessmen like Tom Ward (Sandridge Energy, Oklahoma City) and Larry Mocha (a Tulsa manufacturer), and philanthropists George Kaiser and Stacy Schusterman, both of Tulsa. ” CapitolBeatOK

News Expected on Fate of Postal Service Centers – “Postal workers and local officials hope for good news Thursday, when an announcement is expected concerning the fate of about 250 U.S. Postal Service processing and distribution centers, including Tulsa’s.” Tulsa World