Current:Home > ContactOklahoma’s Republican governor wants to cut taxes. His GOP colleagues aren’t sold on the idea. -ProfitClass
Oklahoma’s Republican governor wants to cut taxes. His GOP colleagues aren’t sold on the idea.
View
Date:2025-04-18 12:56:13
OKLAHOMA CITY (AP) — Oklahoma Gov. Kevin Stitt renewed his pitch on Thursday for lawmakers to reduce the state’s individual income tax rate, but not all of his Republican colleagues in the Legislature are sold on the idea.
On the first day of a special session to consider Stitt’s call for a tax cut, the Senate voted to adjourn with no plan to return after Stitt declined an invitation to explain his proposal to the Senate Appropriations Committee.
Stitt’s absence underscores a growing tension between the second-term governor and the Republican-controlled Legislature that has largely centered on Stitt’s deteriorating relationship with the tribal nations based in Oklahoma.
“It’s not like he was out of the country. It’s not like he was out of the state. He was downstairs,” said Senate President Pro Tempore Greg Treat. “I saw his plan: cut spending, cut taxes. I have yet to see him present a budget that does the first part of that.”
While the Senate Appropriations Committee was preparing to meet to discuss the implications of a tax cut on state revenues, Stitt held a press conference with House Speaker Charles McCall and longtime anti-tax activist Grover Norquist in which the governor advocated for a 0.25% reduction to the state’s top individual income tax rate of 4.75%.
“I’ve asked for tax cuts. I’ve asked for tax fairness,” Stitt said. “Getting these things over the finish line are going to be wonderful for all 4 million Oklahomans, to slow the growth of government.”
McCall said House Republicans are prepared to support an income tax cut, but the Senate has been much more cautious in its approach to tax cuts.
Oklahoma’s revenue collections in recent years have reached all-time highs, fueled in large part by increased revenue from oil and gas production taxes and an infusion of federal COVID relief and other funds. But there are signs revenue collections are beginning to slow down, and some Republicans are concerned that cutting taxes could put the state on precarious financial footing if that trend continues.
The state’s individual income tax collections made up about one-third of the state’s $13.3 billion tax collections last year, and a 0.25% reduction is estimated to cost the state about $240 million annually.
Several GOP-led states have pushed for aggressive tax reductions that swept across states last year and have continued into 2023 — even as some warn that it might be wise for states to hold on to record large surpluses amid economic uncertainty.
Oklahoma also has an unusual provision added to its state constitution by voters in 1992 that any tax increase must be approved by a three-fourth’s vote of both legislative chambers, a feature that makes it extremely difficult to raise taxes during times of economic hardship.
With a hole in its budget of more than $1 billion in 2018 and a looming walkout of public school teachers, the Republican-led Legislature narrowly approved an increase in taxes on motor fuel, tobacco and energy production that has also played a role in the state’s growing revenue.
veryGood! (8)
Related
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Kylie Jenner Got a Golden Ticket to Timothée Chalamet's Wonka Premiere After-Party
- Frances Sternhagen, Tony Award winner of 'Cheers' and 'Sex and the City' fame, dies at 93
- College Football Playoff rankings winners and losers: Top five, Liberty get good news
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Poland’s new parliament brings back state financing for in vitro fertilization
- Retro role-playing video games are all the rage — here's why
- China says US arms sales to Taiwan are turning the island into a ‘powder keg’
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- Maine residents, who pay some of the nation’s highest energy costs, to get some relief next year
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Putting the 80/20 rule to the test
- Hurricane-Weary Floridians Ask: What U.N. Climate Talks?
- Are quiet places going extinct? Meet the volunteers who are trying to change that.
- American news website Axios laying off dozens of employees
- Harris plans to attend the COP28 climate summit
- Deion Sanders loses the assistant coach he demoted; Sean Lewis hired at San Diego State
- Permanent parking: Man sentenced to life in prison for murdering neighbor over parking spot
Recommendation
Travis Hunter, the 2
Settlement reached in lawsuit over chemical spill into West Virginia creek
In Netflix's 'American Symphony,' Jon Batiste, wife Suleika Jaouad share joy and pain
As mystery respiratory illness spreads in dogs, is it safe to board your pet this holiday season?
Connie Chiume, South African 'Black Panther' actress, dies at 72
Inheritance money in dispute after death of woman who made millions off sale of T-rex remains
At COP28, the United States Will Stress an End to Fossil Emissions, Not Fuels
Hundreds of thousands in North Carolina will be added to Medicaid rolls this week