GOP plan to cut taxes for 54 percent of Oklahomans

By: From Wire Reports
By: From Wire Reports

OKLAHOMA CITY (AP) - An analysis of a GOP plan to slash Oklahoma's income tax shows about 54 percent of Oklahomans would receive a tax cut next year for an average savings of $60.

The analysis by the Oklahoma Tax Commission released on Friday shows another 21 percent of Oklahomans would see no change in their tax liability. Nearly 25 percent of Oklahomans would have an increase in their tax liability under the plan.

Gov. Mary Fallin and legislative leaders announced an agreement on the plan Thursday to slash Oklahoma's top income tax rate from 5.25 percent to 4.8 percent next year. The proposal passed its first hurdle on Friday when it was signed out of a House conference committee.

The proposal is expected to be considered Monday by a Senate panel.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Mickey D. on May 19, 2012 at 07:24 PM
    Tax break for the rich. Tax increase for minimum wage workers. Would you like fries with that? Because I just spit on your burger, tax cut boy.
  • by Say What? on May 19, 2012 at 06:44 AM
    Cutting taxes??? What the heck are they trying to do, stimulate the economy and put people back to work?? This isn't Obama's plan. He says we should tax more, remember? I am scared lowering taxes may create more jobs and cause people to start spending more. To further compound the problem, less people may be on government assistance. This isn't Obama's plan for America!
    • reply
      by Logic on May 21, 2012 at 09:44 AM in reply to Say What?
      So believe that we should all depend on the spending habits of the wealthy elite of this country to trickle down upon us all? Tried that many times before. Supply-economics, what George HW Bush called "Voodoo Economics" doesn't work. Like when Bush gave everyone 300 dollar checks remember? That stimulated the economy for about a day! If Tax Cuts for the wealthy created jobs, then when Obama took office we should have all had jobs from 8 years of Bush cutting taxes right? Did we?
Sherman 4201 Texoma Pkwy (903) 892 -8123 Ardmore 2624 S. Commerce (580) 223-0946
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 152095995 -
Gray Television, Inc.