{"id":3690,"date":"2012-01-17T11:57:42","date_gmt":"2012-01-17T17:57:42","guid":{"rendered":"http:\/\/stateimpact.npr.org\/oklahoma\/?p=3690"},"modified":"2012-01-17T13:35:22","modified_gmt":"2012-01-17T19:35:22","slug":"will-reform-recommendations-raise-taxes-for-most-okies-the-numbers-behind-ok-policy-institutes-claim","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/oklahoma\/2012\/01\/17\/will-reform-recommendations-raise-taxes-for-most-okies-the-numbers-behind-ok-policy-institutes-claim\/","title":{"rendered":"Will Reform Recommendations Raise Taxes for Most Okies? The Numbers Behind OK Policy Institute\u2019s Claim"},"content":{"rendered":"
\"\"<\/a><\/p>\n

Gene Perry \/ Oklahoma Policy Institute<\/p>\n

An analyst with the Oklahoma Policy Institute said two-thirds of the tax reform panel's recommended tax credit cuts are "broad-based" and would mean higher taxes for most Oklahomans.<\/p>\n<\/div>

Who will tax reform hurt more: corporate special interests or low-income seniors and families with children?<\/p>

Sen. Mike Mazzei, who co-chaired the tax reform panel, said<\/a> eliminating dozens of tax credits and \u201cpreference items\u201d \u2014 to help pay for reductions to Oklahoma\u2019s personal and corporate income tax \u2014 would be a blow to special interest groups.<\/p>

Mazzei reiterated that point last week in a StudioTulsa<\/em> interview<\/a> with KWGS’ Rich Fisher.<\/p>

But in a new blog post<\/a>, The Oklahoma Policy Institute \u2014 which is leading a coalition<\/a> to fight for<\/em> the income tax \u2014 says the task force recommendation has twice as many broad-based cuts than cuts to corporate special interests.<\/p>

<\/p>

Only one-third of the proposed cuts will affect corporate special interests, writes Gene Perry, a policy analyst with the Oklahoma Policy Institute. According to Perry’s analysis, the bulk of the cuts \u2014 68 percent, or about $240 million \u2014 come from what he calls “broad-based credits and exemptions.”<\/p>

The task force’s plan would raise taxes for most Oklahomans, Perry argues.<\/p>\n

“It\u2019s why the real losers under this plan are not corporate special interests;\u00a0they are families with children and low-income seniors.”<\/p><\/blockquote>

We broke down the entire list of recommended credit cuts earlier this month<\/a>, but here’s a look at the numbers behind Oklahoma Policy Institute’s argument.<\/p>\n

\u201cBroad-based Credits and Exemptions,\u201d according to the Oklahoma Policy Institute:<\/h4>\n\n\n\n\n\n\n\n\n\n\n\n\n
NAME<\/th>\nAMOUNT<\/th>\n<\/tr>\n
Personal Exemption<\/td>\n$132,699,190<\/td>\n<\/tr>\n
Sales Tax Relief<\/td>\n$43,212,000<\/td>\n<\/tr>\n
Oklahoma Earned Income Tax Credit<\/td>\n$31,887,000<\/td>\n<\/tr>\n
Child Care<\/td>\n$28,991,000<\/td>\n<\/tr>\n
Oklahoma College Savings Program<\/td>\n$2,412,120<\/td>\n<\/tr>\n
Individuals Sixty-five (65) or older<\/td>\n$474,300<\/td>\n<\/tr>\n
Low Income Property Tax Relief<\/td>\n$226,000<\/td>\n<\/tr>\n
Blind Individuals<\/td>\n$130,722<\/td>\n<\/tr>\n
Total:<\/strong><\/td>\n$240,032,332<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Who will tax reform hurt more: corporate special interests or low-income seniors and families with children?Sen. Mike Mazzei, who co-chaired the tax reform panel, said eliminating dozens of tax credits and \u201cpreference items\u201d \u2014 to help pay for reductions to Oklahoma\u2019s personal and corporate income tax \u2014 would be a blow to special interest groups.Mazzei […]<\/p>\n","protected":false},"author":36,"featured_media":3700,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[16],"tags":[118,59,97,139],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/3690"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/comments?post=3690"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/3690\/revisions"}],"predecessor-version":[{"id":3706,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/3690\/revisions\/3706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media\/3700"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media?parent=3690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/categories?post=3690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/tags?post=3690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}