Some of this new revenue is from the legislature's actions to grab a higher percent of the economic activity from the people of the state. But that's only a minority portion of the increase.
“Gross collections would indicate Oklahoma, as with the nation, is experiencing increased economic activity,” Miller said. “This data is certainly good news, but as investment disclosures always say, ‘past performance is no guarantee of future results.’ Gross receipts reports are indicators of what has already occurred, not predictors of future activity.”
Changes in monthly gross receipts during the past 12 month have ranged from a decrease of 2.7 percent in March to an increase of 15.1 percent this month. The rate of growth has generally accelerated with each passing month.
The new revenue accounts for 17.4 percent of the growth in January collections compared to the prior year. Out of more than $5.9 billion in collections since August, $140.9 million, or 2.4 percent, has resulted from law changes from last session."
Opinion of the Editor
We recently moved our blog. Our archives are still partially stored at our old site.
David Van Risseghem is the Director of Sooner Politics.org. The resource is committed to informing & mobilizing conservative Oklahomans for civic reform. This endeavor seeks to utilize the efforts of all cooperative facets of the Conservative movement...