Oklahoma GOP Commends House Republicans on Tax Cut Efforts
For Immediate Release: Mar. 15, 2013
(Oklahoma City)–The Oklahoma Republican Party released the following statement today in response to the Oklahoma House of Representatives passing a cut to the state income tax:
“We commend the Oklahoma House of Representatives for passing HB 2032 this week, a bill that lowers the top income tax rate from 5.25 percent to 5.0 percent,” said Chairman Pinnell.
“The answer for a vibrant Republican Party is to make our North Star empowering every individual in this country to follow their own dream, free of legislative excesses – cutting taxes should be at the center of this effort,” continued Pinnell.
Governor Fallin is right when she points out that it’s important for businesses to see that, even as other states and the federal government pursue tax hikes, Oklahoma remains committed to lower taxes and smaller government. That creates a business-friendly environment for future economic growth.
Democrats continue to make the same tired excuse that cutting taxes is a “bad idea.” However, the numbers don’t lie.
State tax collections grew by $883 million from FY-2011 to FY-2012, setting a record for both net state sales tax collections and total tax collections, all in a year when the income tax was reduced. Even more revealing is that revenue from permits, fees and licenses increased $194 million, totaling $597 million for the year at a 48.1-percent increase. Meaningful tax cuts have spurred economic growth, thereby increasing state coffers.
“Tax cuts are both affordable and working in Oklahoma, and Democrats will continue to lose precious voters if they try to argue the contrary,” concluded Pinnell.
Press here to view the OKGOP’s new web ad accompanying this release.
Contact: Matt Pinnell, Chairman OKGOP. 405-528-3501