Skip to comments.Oklahoma Tax Cuts Back on Track
Posted on 01/27/2014 12:59:16 PM PST by ThethoughtsofGreg
Oklahoma is back on track to reduce its personal income tax and make sure it remains economically competitive. Last year, Oklahoma legislators voted to reduce the states personal income tax from 5.25 percent to 5 percent starting January 1, 2015. There was also a provision to lower the income tax further to 4.85 percent in 2016 if certain revenue targets are met. Governor Fallin signed the measure into law and Oklahoma became one of eighteen states to cut taxes during the 2013 legislative session.
Unfortunately, the tax cut package was ultimately ruled unconstitutional by the Oklahoma Supreme Court. The package included a provision to put aside money for repairs to the State Capitol Building, which violated the states single subject rule. The rule, which is law in 41 states, says that each bill can only pertain to a single subject; unlike the behemoth laws that are regularly passed at the federal level. Legislators immediately began to work on legislation to reinstate the tax cuts, but Governor Fallin was originally non-committal as to whether she would support a new tax cut measure.
(Excerpt) Read more at americanlegislator.org ...
You would think the legislators would know their own procedures.
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