Budget Briefing: OK Would Get $650M a Year if Federal Highway Bill Passes

This morning’s budget-related news:

Inhofe Claims Senate Passage of $109 Billion Highway Bill Would be Year’s Most Significant “According to figures provided by his staff, Oklahoma would receive an average of almost $650 million per year, which translates into $1.38 for every $1 that Oklahomans pay in federal gas taxes.” (tulsaworld.com)

Tax Collections at Historic Lows “The share of income Oklahomans pay in state taxes has fallen to its lowest point in decades. As we struggle through an incomplete recovery, and with tax cuts back on the front burner of the political agenda, the failure of our tax collections to keep pace with growing costs and growing needs raises critical questions of how we can meet the core responsibilities that Oklahomans expect from state government.” (okpolicy.org)

Dueling Income Tax-Cut Plans Pass House “The phrase of the day in the state House Wednesday was “work in progress,” especially as it applied to proposals to reduce or phase-out the personal income tax.” (journalrecord.com)