Guv’s Proposals Still Alive in Legislature
Oklahoma governor’s two proposals remain alive in Legislature
Both a reduction in the top rate of Oklahoma’s personal income tax and overhauling the workers’ compensation system get past the first major deadline in this year’s session. Gov. Mary Fallin said an income tax reduction, which was thwarted last year, is likely.
By Michael McNutt | Published: March 16, 2013
Two key proposals by Gov. Mary Fallin — reducing the top personal income tax rate down to 5 percent and overhauling Oklahoma’s workers’ compensation court — remain intact after lawmakers completed the first of three key deadlines.
“I think we’ll get a tax cut done this year,” Fallin said. “There seems to be great buy-in from both the (House) speaker and the (Senate) pro tem.”
The House of Representatives last week passed House Bill 2032, which contains Fallin’s income tax-cutting proposal to reduce the state’s highest personal income tax rate from 5.25 percent to 5 percent. It calls for the income tax cut to be paid for out of available revenue and is not dependent on reducing or eliminating any tax credits or exemptions or deductions as most of last year’s proposals did.