The Oklahoma House of Representatives and Senate have both unveiled their state budget plans for the pending fiscal year. Each side has included goals that merit praise.
The House budget plan includes a quarter-point reduction in the state’s personal income tax, which would reduce our top rate from 4.75 percent to 4.5 percent. Because the personal income tax is a penalty on work and investment, the tax depresses economic growth. The lower the rate, the better the job creation and opportunity for all Oklahomans. While the best rate would be zero, any move in that direction is welcome.
Read more »by Muskogee Politico - April 27, 2024 at 12:05PM
Small: Budget plans includes worthwhile items
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