Okla. House scuttles tax agreement; has new plan

By: From Wire Reports
By: From Wire Reports

OKLAHOMA CITY (AP) - The Oklahoma House will not take up a proposal announced last week to slash Oklahoma's income tax and has instead come up with its own plan to cut taxes.

House leaders said Wednesday there was too much opposition among House Republicans to the proposal announced last week by the governor and Senate leaders that would cut income taxes by nearly one-half of 1 percent.

House Speaker Kris Steele says the House plan would cut taxes by one-quarter of 1 percent beginning in 2014 if certain revenue triggers are reached. Steele says Gov. Mary Fallin has "indicated she can live with this plan" - but he acknowledged there is no agreement with the Senate.

Senate leaders have said they oppose the idea of revenue triggers to cut taxes.

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 This material may not be published, broadcast, rewritten or redistributed.)

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  • by Opinionated Location: Ardmore on Jun 5, 2012 at 12:02 PM
    Well, individually, it isn't much. But combined with the several hundred thousand employeed Oklahoman's, that actually is a lot of money. It's $.25 of every $100 you make. Just something to think about.
  • by Anonymous on May 24, 2012 at 06:03 AM
    One-quarter of one percent? Wow, that will certainly save the people a bundle of cash! What will they do with all of the extra money?
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