C
Oklahoma House of Representatives
January 18, 2012 | 9:27 am
House GOP’s Legislative Priority: Reduce the Income Tax. How and Other Goals? TBA
-
Joe Wertz
Oklahoma House of Representatives
House Speaker Kris Steele said more details on Republican legislative priorities would be released before the session starts on Feb. 6.
House Republicans want to reduce Oklahoma’s top personal income tax rate during the upcoming legislative session.
How they might go about reducing the income tax isn’t so clear, and neither are the Republicans’ other legislative priorities, The Oklahoman reports:
Details were lacking as House Republicans discussed legislative goals for the upcoming session, which starts Feb. 6. More information will be released on specific topics in the days leading up to the session, House Speaker Kris Steele, R-Shawnee, told the paper.
House Minority Leader Scott Inman, D-Del City, told reporter Michael McNutt his Republican counterparts were “long on ideas, short on specifics.”
“I am somewhat more surprised that they were short on details, especially when it comes to the income tax situation. They’ve been studying that for quite some time.”
More than a dozen GOP leaders attended Tuesday’s announcement, according to the Associated Press. “Over-arching principles” were outlined, but few specifics were revealed, the AP reported.
The details are more difficult, McNutt points out.
The income tax generates about one-third of revenues for appropriations, and Oklahoma could be facing a $150 million shortfall. Oklahoma doesn’t have roughly $500 million in one-time funds that bolstered the state budget a year ago. But lawmakers are optimistic for continued growth in revenues, which are about $400 million higher than a year ago.
