Despite Soaring Revenue, OK Plans No Tax Cuts
The vibrant Oklahoma economy’s impressive expansion, with the state in the top three for per capita personal income growth during the past few years, is bringing a lot more money into state tax coffers.
However, taxpayers probably should not count on significant tax relief any time soon.
The Legislature will have about $214.6 million more to spend for fiscal year 2014 than in FY 2013, yet state officials don’t seem prepared to make a fresh push for a major personal income tax reduction.
Finance Secretary Preston Doerflinger said Gov. Mary Fallin has not made several significant decisions about the Executive Budget she will submit to the Legislature in February.
Source: Oklahoma Watchdog. Read full article. (link)
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