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Heres How Many New Business Applications Oklahoma Received in 2021

2/28/2022

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Small businesses are an economic pillar in the United States. Businesses with fewer than 500 employees account for two-thirds of net new jobs in the U.S. and generate 44% of economic activity nationwide, according to the U.S. Small Business Administration.

Though small businesses in the U.S. were hit hard by the COVID-19 pandemic, with an estimated one-third closing either temporarily or permanently since early 2020, American entrepreneurs appear undeterred.

From January 2021 through January 2022, over 5.8 million applications for new businesses were filed, according to Business Formation Statistics from the U.S Census Bureau - or 1,772 for every 100,000 Americans.

Oklahoma accounted for 62,351 of all new business applications filed nationwide over the same period, the 22nd fewest among states. Adjusting for population, however, there were 1,576 applications for every 100,000 people in Oklahoma, lower than the national average and the 23rd highest among states.

Oklahoma saw the most applications submitted in January 2021, at 5,565, while February 2021 marked a low point over the period with just 4,407 new business applications. It is important to note that not all new business applications result in the creation of a new business, and only about 80% of new businesses last for more than a year.

RankStateNew business applications per 100,000 peopleTotal new business applications, Jan. 2021-Jan. 20221Wyoming6,39537,0142Delaware4,97348,4273Georgia3,291349,4264Florida3,183683,6805Nevada2,38473,4306Mississippi2,34769,8567Louisiana2,308107,2928Utah2,13968,5799Colorado2,098120,83010Maryland2,050123,92111South Carolina2,016103,78112New Jersey1,998177,50613Montana1,94220,76114Texas1,850536,30115North Carolina1,785187,22916Idaho1,73230,95217New York1,730336,51018Arizona1,693123,24519Illinois1,686213,60120Virginia1,658141,51421Alabama1,65381,07122Michigan1,627162,47823Oklahoma1,57662,35124Tennessee1,488101,63125Missouri1,48891,32626Arkansas1,48144,69527Hawaii1,47220,83928Connecticut1,43751,21729Ohio1,428166,93830California1,425563,10231Indiana1,39393,78632Pennsylvania1,335170,93433Washington1,321100,56734Vermont1,3048,13835Oregon1,27853,90036New Mexico1,27426,72137Minnesota1,24270,03338South Dakota1,24010,97239Wisconsin1,20970,39240Alaska1,2068,82641Massachusetts1,19081,99142Rhode Island1,16512,34143Kentucky1,14551,15144Kansas1,13933,17345North Dakota1,1328,62646New Hampshire1,09414,87647Maine1,08814,62648Nebraska1,07820,85549Iowa1,01832,13150West Virginia80514,435



via Oklahoma's Center Square News
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Oklahoma's Inhofe leaving U.S. Senate

2/26/2022

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(The Center Square) – U.S Sen. Jim Inhofe, R-Okla., is stepping down from his Senate seat.

The senator said in a letter to Oklahoma Secretary of State Brian Bingman he and his wife, Kay, felt like it was time to "stand aside and support the next generation of Oklahoma leaders."

Inhofe will retire Jan. 3. Oklahoma election law requires a special election to fill the seat and serve the rest of Inhofe's term, which ends in 2027. The election will be held with the current midterm schedule.

Inhofe serves as the ranking member of the Armed Services Committee and on the Small Business and Environment and Public Works committees. He was first elected to the Senate in 1994.

Inhofe said his letter to Bingman he was endorsing his chief of staff, Luke Holland, as his successor, and called Holland "a fierce conservative and the best person to continue my legacy of a strong national defense and investment of local infrastructure."

The senator's career in public service began in 1967.

"For years, Kay and I were focused on our family and building our business together," Inhofe said in a statement. "Then, one day, I needed a dock permit. I had to visit 27 government offices to get a single dock permit, and realized if we wanted the government to work for the people, not against the people, it was up to us to make a change."

Oklahoma leaders praised Inhofe for his years of service.

“Sen. Jim Inhofe has served the State of Oklahoma with unwavering devotion," Oklahoma Gov. Kevin Stitt said in a statement. "At every turn, Oklahoma has benefited from his profound vision for a strong national military, robust infrastructure system, and vibrant domestic energy production. I am grateful he has committed to serving the state and our nation through the end of 2022.”

U.S Sen. James Lankford, R-Okla., said the Senate was losing a warrior.

“His legacy in the Senate will be remembered as a fighter for our military service members and our nation’s infrastructure," Lankford said in a statement. "Oklahomans will remember his leadership when they’re driving on sound highways and bridges – but he will also be known for his love for Jesus and his love for sharing Jesus with the world."

Senate Minority Leader Mitch McConnell, R-Ky., called Inhofe one of Oklahoma's fiercest advocates.

"But Jim’s legacy of consequential public service extends even beyond our borders," McConnell said in a statement. "As a longtime member and Chairman of the Armed Services Committee, his advocacy for his fellow veterans and for the men and women serving today in uniform has helped make America safer and our power more respected around the world."



via Oklahoma's Center Square News
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This Is the Hardest College to Get Into in Oklahoma

2/26/2022

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A college education is the single largest investment many Americans will make in their lifetimes. When accounting for interest on student loans and loss of potential income during school, the total cost of a bachelor's degree can exceed $400,000.

With so much money at stake, it is important to choose the right school. What makes a school a good fit for any given student can depend on a number of factors, including financial aid packages, course offerings, and location, among others. For many, the right school is simply the most selective school they can get into.

A college degree opens up new job opportunities, increases earning potential, and reduces the likelihood of unemployment. But often, the name of the institution printed on the diploma can be as important as the diploma itself. Highly selective colleges and universities are often well regarded worldwide and can help open doors to more job opportunities.

Based on an index of admissions rates and SAT scores, the University of Tulsa ranks as the hardest school in Oklahoma to get into. In the 2020-2021 school year, a reported 69.2% of all 5,815 applicants were admitted. Additionally, the combined median math and critical reading SAT scores among students admitted in fall 2019 was 1225 out of a possible 1600.

Undergraduate enrollment at the University of Tulsa totaled 2,929 as of fall 2020. There are a reported 10 students for every faculty member at the school, and the average earnings among working students 10 years after enrollment stands at $60,500.

All data used in this story is from the National Center for Education Statistics of the U.S. Department of Education. We only considered predominantly bachelor's degree-granting colleges and universities with at least 1,000 applicants for the 2020-2021 academic year.

StateSchoolAdmission rate (%)Median SAT score (out of 1600)Faculty members per studentAlabamaUniversity of Alabama77.1136419AlaskaUniversity of Alaska67.0115511ArizonaUniversity of Arizona85.1123515ArkansasHarding University55.1116514CaliforniaCalifornia Institute of Technology6.715453ColoradoColorado School of Mines55.0131017ConnecticutYale University6.515154DelawareUniversity of Delaware66.0125515FloridaUniversity of Florida31.1139017GeorgiaEmory University19.214459HawaiiBrigham Young University75.0117016IdahoUniversity of Idaho74.4112516IllinoisUniversity of Chicago7.315355IndianaUniversity of Notre Dame19.014759IowaGrinnell College19.214508KansasSterling College36.998510KentuckyBerea College33.011949LouisianaTulane University11.114408MaineColby College10.3145010MarylandJohns Hopkins University11.115106MassachusettsMassachusetts Institute of Technology7.315403MichiganUniversity of Michigan26.1143511MinnesotaCarleton College21.214508MississippiMississippi College28.8114515MissouriWashington University16.015207MontanaCarroll College73.0118011NebraskaCreighton University64.0126012NevadaUniversity of Nevada81.0114018New HampshireDartmouth College9.215007New JerseyPrinceton University5.615154New MexicoEastern New Mexico University50.6100517New YorkColumbia University6.715056North CarolinaDuke University7.715256North DakotaUniversity of Mary71.7116411OhioCase Western Reserve University30.3142511OklahomaUniversity of Tulsa69.2122510OregonReed College42.314239PennsylvaniaUniversity of Pennsylvania9.015056Rhode IslandBrown University7.715056South CarolinaWofford College53.0127012South DakotaAugustana University71.4122512TennesseeVanderbilt University11.615108TexasRice University10.915206UtahBrigham Young University69.3131521VermontMiddlebury College22.014458VirginiaUniversity of Virginia22.6143015WashingtonWhitman College54.113458West VirginiaWest Virginia University Institute of Technology55.1103013WisconsinUniversity of Wisconsin57.2139016WyomingUniversity of Wyoming94.2117014



via Oklahoma's Center Square News
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Sports betting bill gets approval from Oklahoma subcommittee

2/25/2022

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(The Center Square) – A bill that would allow sports betting in Oklahoma casinos has been given a "do pass" recommendation by the House Appropriations and Budget General Government Subcommittee.

The bill would only sports betting in the state's 131 casinos but not online, said Rep. Ken Luttrell, R-Ponca City. A group of casinos in Mississippi were the first to allow sports betting after the U.S. Supreme Court removed the ban in 2018 and they are doing well, he said.

"Their state revenue right now is a million dollars a month. Their betting is $83 million a month in their 23 casinos," Luttrell said at Monday's committee meeting. "When you do the math, looking at Oklahoma with 131 casinos that would be eligible to participate in this, the projected income for the state of Oklahoma is substantial. The projected income for those tribes is substantial plus the jobs it would create."

The 35 tribes that operate the more than 130 gaming facilities in the state have not reached unanimous position on the bill, according to Matthew Morgan, chair of the Oklahoma Indian Gaming Association.

"Almost all of the association is very interested in sports betting," Morgan told The Center Square. "But we do have some folks that are very interested in the mobile aspect of sports betting, which Rep. Luttrell's bill does not capture. And we also have some concerns from our members on what fee split would look like given the low margin of sports betting. I think they would like to see that reworked in a way that would make them more likely to support something in that way."

The bill would require the tribes to pay the state 10% of the monthly "new wins," which includes "all money wagered less prizes paid out and less applicable federal taxes."

The state controls that decision, Morgan said.

"It's like getting invited to someone's house for a meal," Morgan said. "It's clearly the Oklahoma Legislature's house. They're the ones that are going to decide what meal is going to be served. It would be nice if they reached out to see if we had any specific requests for what that meal may look like and what day and what time but ultimately it's their event."

Sports betting became legal in the U.S. in 2018 after the Supreme Court removed a ban that prohibited it in all states except Nevada. Thirty states have legalized sports betting, including three states that border Oklahoma.

An Arkansas legislative committee has cleared the way for mobile sports betting, which will be in effect March 4, according to Scott Hardin of the Arkansas Department of Finance and Administration. Missouri lawmakers are also considering a bill that would legalize sports betting there.



via Oklahoma's Center Square News
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How Oklahomas Population Will Change in the Next 20 Years

2/25/2022

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Each year, millions of Americans pack up and move to a new state - either for a job, family reasons, a change of climate, or any number of other reasons. Migration and natural population change resulting from births and deaths can cause significant demographic shifts, which have consequences for local economies and governments.

Negative or slow population growth can lead to weaker economic growth and fewer economic opportunities - which in turn can push more people out of a given state. Population decline can also mean reduced revenue for state governments and limited funding for public works and services and reduced ability to meet budgetary obligations. Here is a look at the states collecting the most in income tax.

According to a study conducted by the Weldon Cooper Center for Public Service at the University of Virginia, Oklahoma's population is projected to expand by 10.9% between 2020 and 2040 - an increase of 437,858 people. If the Cooper Center's projections bear out, Oklahoma's ranking as the 23rd least populous state will remain unchanged, also taking into account population changes in other states.

The projected change is in keeping with the trend of the last decade. Between 2010 and 2020, the number of people living in Oklahoma climbed by 6.7%, or 249,829 people.

A full methodological explanation for how these projections were calculated can be found here.

RankNameProjected 2020 to 2040 pop. change (%)2020 population2020 rank2040 projected population2040 rank1Texas35.229,604,099240,015,91322North Dakota34.3789,403471,060,457453Utah34.13,240,569304,344,339294Florida32.021,877,257328,886,98335Colorado31.75,843,359207,692,907176Nevada30.13,119,265324,058,371307Washington27.37,681,818139,776,126128Arizona26.17,268,694149,166,279149Idaho25.41,777,249392,227,8423610South Carolina22.55,184,564236,352,5022211Oregon21.04,267,534275,164,0412412North Carolina19.810,568,033912,658,927713Georgia19.510,725,351812,820,271514Delaware17.9987,393451,164,3444415South Dakota17.0891,688461,043,0324716Montana15.01,074,635431,236,3044317California14.940,438,640146,467,001118Virginia14.18,655,021129,876,7281119Tennessee14.06,861,856167,823,6621520Minnesota12.05,683,666226,364,8862021Nebraska12.01,956,876372,190,9183722Hawaii11.41,453,902401,619,7034023Maryland11.16,161,345196,842,9021924Oklahoma10.94,001,180284,439,0382825Massachusetts10.96,982,092157,742,6281626Alaska9.1751,32848819,9544827Louisiana6.74,742,900255,062,7802528Iowa6.53,184,240313,392,7833229Arkansas5.93,038,491333,217,5353330Indiana5.36,737,581177,095,0001831Wyoming5.2585,38050615,7874932Kentucky4.84,498,533264,714,7612733New York4.220,031,150420,873,488434New Jersey4.29,088,074119,470,0121335Kansas3.32,936,212353,032,6533436Missouri3.26,161,471186,359,9702137New Hampshire3.01,352,917411,393,4514138Alabama3.04,911,278245,056,7962639Wisconsin2.75,837,176215,997,1372340New Mexico1.32,099,134362,127,3183841Ohio0.411,705,262711,751,540942Pennsylvania-0.312,844,885512,809,150643Michigan-0.39,992,315109,960,1151044Rhode Island-0.71,062,334441,055,3184645Maine-0.91,338,780421,326,1594246Mississippi-0.92,990,498342,962,1603547Connecticut-1.43,593,542293,542,7073148Illinois-3.112,791,188612,397,564849Vermont-3.4622,86849601,8655050West Virginia-7.81,801,966381,661,84939



via Oklahoma's Center Square News
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14 attorneys general demand DHS Secretary Mayorkas resign over border crisis

2/23/2022

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(The Center Square) – Fourteen Republican attorneys general, led by Florida Attorney General Ashley Moody, have called on Department of Homeland Security Secretary Alejandro Mayorkas to resign.

“We, the Attorneys General of 14 States, write to demand your immediate resignation,” they wrote.

“Secretary Mayorkas has failed to deliver on the core function of the agency he runs: ‘to secure the nation from the many threats we face,’” Moody said. “Through his refusal to enforce federal laws, including deporting criminals and maintaining order at the border, he has put America and our respective states on the verge of a national security crisis. The only individuals who are more secure because of our DHS secretary are the drug cartels and human smugglers. Secretary Mayorkas should admit his failure to achieve the basic mission of this agency and resign immediately.”

Joining Moody are the attorneys general of Alabama, Arizona, Arkansas, Georgia, Indiana, Louisiana, Missouri, Montana, Oklahoma, South Carolina, Texas, Utah and West Virginia.

When Mayorkas was sworn into office, he swore to “support and defend the Constitution of the United States against all enemies foreign and domestic,” the attorneys general said.

“You have violated that oath every day since you took office. Americans have died because of your failure to obey the law and do your solemn duty. More Americans will unnecessarily die and suffer for as long as you remain Secretary,” they wrote.

Referring to remarks Mayorkas gave at the U.S. Conference of Mayors last month, they argue, “As you publicly boast about your abject refusal to enforce the laws enacted by Congress to keep us safe, our southwest border is a disaster and our nation is on the verge of a national security crisis. Some of our States lie on the southwest border and live your catastrophic actions daily. Others have traveled to the southwest border and witnessed first-hand your utter malfeasance as Secretary. The effects of your dismal leadership at DHS are felt in each of our States.”

At the conference, Mayorkas discussed how he changed immigration guidelines, radically altering Immigration and Customs Enforcement agents’ ability to enforce existing laws. He said, “articulated what I felt was a very important principle: that we will not dedicate our limited enforcement resources to apprehend individuals who have been here in this country for many years, who have been contributing members of our communities.

“Unlawful presence in the United States will alone not be a basis for an immigration enforcement action but rather, we will allocate our efforts, we will allocate our resources on those individuals who present a current public safety threat, a threat to national security, or a threat to our border security, and that is a very important principle.”

The fact that being in the U.S. illegally is a federal crime that DHS will no longer enforce, is a dereliction of duty, those who’ve called on him to resign and be impeached argue, including U.S. Rep. Andy Biggs, R-Arizona, and Texas Congressmen Chip Roy and Michael Cloud, among others.

As each of the attorneys general have been combating escalating crimes related to illegal immigration and have seen a wave of illicit drugs pour into their states, they point to Mayorkas’ failed leadership as a contributing factor.

“From the time you took office to December 2021,” they wrote, “U.S. Customs and Border Protection seized enough fentanyl to kill every man, woman and child in our country six times over – an increase of more than 30 percent since before you took office. If that much was detected and seized, we shudder to think how much more is slipping through each day … Any competent leader facing such disastrous results would quickly alter their policies to abate the extraordinary harm … Yet you continue undeterred, oblivious … to the destruction and deaths you are causing in American communities.”

Since he’s been in office, “…the number of sex offenders arrested entering our country increased by an astounding 213 percent over the last fiscal year. Given your unlawful catch and release policies, we are left with many other unanswerable questions, like how many children are now being trafficked in our communities and how many sex offenders now prowl our streets.”

Last year, Customs and Border Protection continued to report on repeat sex offenders re-entering the U.S. illegally. From November 2020 to August 2021, border patrol agents arrested 8,691 known criminals who entered the U.S. illegally. Combined, they committed 12,685 crimes in the U.S.

Border Patrol agents estimate these numbers only represent a fraction of those coming through who they don’t catch.

The Del Rio sector alone reported a 1,400% surge in the number of sex offenders its agents apprehended.

“That more criminals are entering our country is, of course, a natural consequence of your refusal to enforce the law,” they wrote. “Deportations have fallen a staggering 70 percent since 2020. Perhaps most egregiously, you have refused to deport some of the most dangerous criminals, even though you are required by law to do so. That decision is shocking, especially because Democrats and Republicans alike have always prioritized the removal of criminals here illegally, including when you were Deputy Secretary of DHS from 2013-2016.”

Mayorkas and President Joe Biden have maintained that their approach is more humane than the previous administration’s as they continue to reverse policies it had put in place.



via Oklahoma's Center Square News
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Oklahoma Board of Equalization certifies $10.49B in revenue

2/23/2022

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(The Center Square) – The Oklahoma Board of Equalization certified $1.6 billion more than was estimated in December on Tuesday.

The $10.49 billion will be available to lawmakers as they craft the fiscal year 2023 budget. The amount was $10.3 billion in December.

“The revenue figures show Oklahoma’s economy is still strong, but I emphatically believe it is in the best interest of the state that we continue to take a fiscally conservative approach," Senate Appropriations Chair Roger Thompson, R-Okemah, said in a statement. "It’s important to remember that of the $10.49 billion certified, nearly $1.3 billion is made up of one-time carryover funds and special cash from previous sessions."

Sen. Julia Kirt, D-Oklahoma City, said the state is sitting on a "mountain of need" because of the long-term effects of the COVID-19 pandemic.

“Oklahomans face huge mental health effects," Kirt said in a statement. "Uncertain economic impacts will continue to have a ripple effect. Our public schools face incredible challenges being resilient and serving our students. Oklahomans have needs that require immediate, increased and sustained investment. As we work on the state budget, we need to think about not just the next fiscal year, but the next 10 years and beyond."

The money should go to "help those who need it most," Sen. Carri Hicks, D-Oklahoma City, said in a statement.

“Federal COVID relief funds have jump-started Oklahoma’s economy and the revenue numbers shown today reflect that," Hicks said. “Taxpayers expect the legislature to make smart investments, not stash our tax dollars in government savings accounts leaving much needed funding on the table."

Thompson said the state will not always have an influx of pandemic relief funds.

"Knowing that will change, and that energy prices will not always remain as high as they are now, we must be cautious in our approach to the budget," Thompson said. "We need to continue to boost our emergency savings and make careful decisions now while the economy is strong, so that we are prepared for what may come the next few years.”



via Oklahoma's Center Square News
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Oklahoma Is One of the Worst Places to Live for Older Americans

2/22/2022

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The COVID-19 pandemic ushered in a surge of retirements across the U.S. labor force. Experts estimate that in the first 18 months of the pandemic, there were 2.4 million more retirements than there would have otherwise been. Due in part to the historic increase, an estimated 19.3% of the U.S. population were retired as of mid-2021, the largest share in at least the last 25 years.

The two primary reasons older Americans left the workforce for good in recent months were the health risks posed by the pandemic and rising asset values - particularly in housing and the stock market - that made retirement financially feasible. Indeed, health and financial stability are two of many factors that affect overall quality of life throughout old age. Here is a look at what it costs to retire comfortably in every state.

With retirements at historic levels, 24/7 Wall St. created an index of over a dozen key socioeconomic measures to identify the best and worst states to grow old in. The measures were chosen to gauge the health, financial well-being, safety, and social engagement of 65 and older populations in each state.

Only five states rank worse as a place for older Americans to live than Oklahoma. Remaining socially engaged throughout retirement can be critical to overall well-being, and some key measures of social engagement for older Americans are far below average in Oklahoma. For example, only about 36% of retirement age residents report doing favors for neighbors at least once per month, well below the 41% share of older Americans nationwide. Additionally, Oklahoma residents 65 and older belong to an average of 2.0 groups and organizations, the 10th smallest share among states.

Health outcomes are also below average for older Oklahoma residents. Life expectancy at age 65 in the state is just 17.6 years, the fifth lowest of any state and about two years below the national average.

RankStatePopulation 65 and older (%)Avg. annual earnings, 65 and older households ($)Life expectancy at age 65 (years)1Delaware19.563,96219.22Hawaii19.081,02721.13Connecticut17.679,20220.34Utah11.461,31319.55Maryland15.980,47719.46Massachusetts17.076,13119.97New York16.979,33920.28Washington15.966,58119.89Colorado14.764,40320.010Vermont20.154,52519.811New Hampshire18.662,64219.512Wisconsin17.546,90819.513New Jersey16.679,11219.914Oregon18.254,61219.715Virginia15.968,43519.316Minnesota16.353,27220.017Maine21.348,02519.118Nebraska16.154,24919.319Pennsylvania18.759,51319.120Florida20.960,59819.921Rhode Island17.769,25619.522Idaho16.252,21619.323South Dakota17.448,10019.724California14.880,45920.325Iowa17.549,52119.326Michigan17.752,13718.927Montana19.548,37019.528Illinois16.162,79719.429Wyoming17.152,05419.030Arizona18.057,46919.631Ohio17.550,40218.432North Carolina16.752,48118.733South Carolina18.251,37218.634Kansas16.453,08118.835Alaska12.469,44319.236Indiana16.151,95018.337North Dakota15.862,66219.738Georgia14.359,75118.439Missouri17.251,94018.440West Virginia20.545,53217.641Tennessee16.755,99017.942New Mexico18.058,48519.543Texas12.964,58918.944Alabama17.451,60117.645Oklahoma16.161,09117.646Nevada16.256,56318.747Louisiana16.055,80917.948Kentucky16.952,98917.549Arkansas17.447,04117.950Mississippi16.449,42217.5



via Oklahoma's Center Square News
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FEMA issues $23.3M to Oklahoma residents for COVID-related funeral expenses

2/22/2022

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(The Center Square) – The Federal Emergency Management Agency (FEMA) distributed $23.3 million to residents of Oklahoma toward funeral costs related to the COVID-19 pandemic, according to new data.

The new data showed out of 5,724 total applications from Oklahoma residents, FEMA granted 3,658 awards for funeral expenses totaling in $23,321,918, or an average of about $6,375 per granted application.

The Oklahoma Department of Health reported more than 1 million COVID-19 cases as Friday and 14,223 deaths.

The funeral expense funds provide a maximum of $9,000 per deceased person and a maximum of $35,500 per application if there are multiple people included in the application, according to FEMA.

FEMA said it has issued $1.6 billion to more than 247,000 people in COVID-19 funeral assistance funds.

Relief funds were issued to assist in paying for funerals for people who died directly or indirectly from COVID-19. The funeral relief funds are applicable for deaths occurring after Jan. 20, 2020.

FEMA requires a death certificate listing COVID-19 as a direct or direct cause for deaths from May 17, 2020, onward. For deaths between Jan. 20, 2020, and May 16, 2020, the death certificate must list COVID-19 as a direct or direct cause for death or they may provide a signed statement from a “local medical examiner or coroner from the jurisdiction,” according to FEMA.

The relief funds can be used to pay for funeral services, cremation, headstones and caskets, among other expenses.

The FEMA COVID-19 funeral assistance funds were approved as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 and the American Rescue Plan Act of 2021.



via Oklahoma's Center Square News
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How the Cost of Living in Oklahoma Compares to the Nation

2/19/2022

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Inflation is on the rise at a historic pace in the United States. The consumer price index surged 7.5% on an annual basis in January 2022, the highest increase in about 40 years. While wages have also climbed, they have not increased enough to offset rising prices for the typical American worker.

Inflation is being driven in large part by supply chain disruptions, which are limiting production capacity and the availability of certain goods and ultimately leading to higher prices. Pent-up consumer demand in the wake of COVID-19 shutdowns across the globe is exacerbating the problem. Recently, consumers have been feeling the pinch, particularly through higher food, housing, and energy prices.

While consumers across the country are paying more for goods and services now than they were a year ago, exactly how much they are paying depends largely on where they live, as some states have a far higher cost of living than others.

In Oklahoma, the cost of living is 12.1% lower than it is on average nationwide, according to the Composite Cost of Living Index published by the Missouri Economic Research and Information Center. Overall, the cost of living in Oklahoma ranks as the fourth lowest among states. It is important to note that this index reflects the annual average cost of living in 2021 and does not account for recent price increases due to inflation.

Of the five specific consumer categories factored into the index - groceries, housing, utilities, transportation, and health care - utilities ranks as the most expensive in Oklahoma relative to national prices, costing about 4.9% less than average. Meanwhile, housing is the least expensive consumer category relative to national averages, with prices about 25.3% lower than they are nationwide.

RankStateCost of livingMost expensive categoryLeast expensive categoryMedian household income ($)1Hawaii93.3% more than avg.HousingHealth care83,1022New York48.2% more than avg.HousingUtilities72,1083California42.2% more than avg.HousingHealth care80,4404Massachusetts35% more than avg.HousingUtilities85,8435Oregon30.1% more than avg.HousingUtilities67,0586Alaska27.1% more than avg.UtilitiesTransportation75,4637Maryland24% more than avg.HousingHealth care86,7388Connecticut21.6% more than avg.HousingGroceries78,8339Rhode Island17.2% more than avg.UtilitiesHealth care71,16910Vermont17% more than avg.HousingHealth care63,00111New Jersey15.2% more than avg.HousingHealth care85,75112Maine15% more than avg.HousingGroceries58,92413Washington11.6% more than avg.Health careUtilities78,68714New Hampshire9.9% more than avg.Health careTransportation77,93315Delaware7.9% more than avg.GroceriesUtilities70,17616Nevada6.3% more than avg.TransportationUtilities63,27617Colorado5.3% more than avg.HousingUtilities77,12718Arizona3.2% more than avg.HousingHealth care62,05519Pennsylvania2.5% more than avg.UtilitiesHealth care63,46320Idaho2.1% more than avg.TransportationUtilities60,99921Virginia1.8% more than avg.HousingTransportation76,45622South Dakota1% more than avg.HousingTransportation59,53323Montana0.7% more than avg.HousingUtilities57,15324Florida0.3% more than avg.GroceriesHealth care59,22725MinnesotaAbout avg.Health careHousing74,59326Utah1% less than avg.TransportationUtilities75,78027North Dakota1.8% less than avg.Health careUtilities64,57728Wisconsin3.6% less than avg.Health careHousing64,16829North Carolina4.3% less than avg.Health careHousing57,34130Wyoming5.7% less than avg.GroceriesHousing65,00331Illinois5.7% less than avg.TransportationHousing69,18732Nebraska6.3% less than avg.Health careHousing63,22933South Carolina6.4% less than avg.UtilitiesHousing56,22734Kentucky6.9% less than avg.UtilitiesHousing52,29535Louisiana7% less than avg.Health careHousing51,07336Texas7.9% less than avg.UtilitiesHousing64,03437Michigan8.7% less than avg.TransportationHousing59,58438Ohio8.7% less than avg.GroceriesHousing58,64239New Mexico9% less than avg.Health careHousing51,94540Arkansas9.1% less than avg.GroceriesHousing48,95241Indiana9.4% less than avg.UtilitiesHousing57,60342West Virginia9.5% less than avg.GroceriesHousing48,85043Iowa10.1% less than avg.Health careHousing61,69144Missouri10.2% less than avg.UtilitiesHousing57,40945Tennessee11% less than avg.GroceriesHousing56,07146Georgia11.2% less than avg.Health careHousing61,98047Oklahoma12.1% less than avg.UtilitiesHousing54,44948Alabama12.1% less than avg.UtilitiesHousing51,73449Kansas13.5% less than avg.Health careHousing62,08750Mississippi16.7% less than avg.Health careHousing45,792



via Oklahoma's Center Square News
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