Back in June, many politicians were avoiding the press and would not step up for sound principle on how state funding ought to be done. But State Treasurer, Ken Miller, was not shy about any of it. Here's what he said, at the time. | For Immediate Release: June 28, 2017 Statement of State Treasurer Ken Miller OKLAHOMA CITY - State Treasurer Ken Miller issued the following statement concerning his vote against final certification of the FY-18 budget during a meeting Wednesday of the State Board of Equalization. "I have labored over this decision and have my own interpretation of the duty of this board. I reject the notion that equalization board members do not have the authority to exercise judgment and vote their conscience. "I believe in co-equal branches ofgovernment and the checks and balances that brings. I do not believe this board should be a rubber stamp. ''If this budget, and the new revenues therein, are worthy of certification, it's hard to imagine one that is not, which would then beg the question of why today's action is even necessary. ''As a former appropriations chair, I have empathy for the great efforts and good intentions of budget negotiators this session. Even so, this budget has problems: violation of the spirit and probably the letter of the state constitution, estimate issues stemming from legal challenges, and continued structural imbalance caused by dependency on one-time funds. "My vote today is not meant to browbeat or cast aspersions, but simply one of conscience.'' Treasurer Miller is commended for his plainly-stated advocacy for making sure the state manages funds properly. |
Democrat leaders in the House had negotiated down to a 5% petroleum production tax, in May; but House & Senate Republicans would not budge past 4%. This entire fiasco played out over the summer because of a 1% difference in gross production for the 1st three years of a new well's operations.
Democrats argue that surrounding states all charge a 7% gross production tax. But Texas does not charge a secondary income tax, as Oklahoma does. Texas relies more heavily on property taxes to fund state services. State Auditor, Gary Jones, argues that a gross production tax is the equivalent of a property tax, but is only assessed one time (at the point that it is pumped out of the ground).
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