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Entries Tagged as 'income tax cut'

(access required)">Phased-in income tax reduction now law; Fent legal challenge in the works (access required)

May 13th, 2013 · No Comments · Executive Branch, House, Senate

Beginning Jan. 1, 2015, Oklahoma’s top marginal income tax rate will drop from 5.25 percent to 5 percent. Gov. Mary Fallin signed the measure Monday. If revenue growth meets a particular trigger, the tax rate will decrease to 4.85 percent in 2016. Unless …

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(access required)">Reconsideration, adoption of emergency clause on income tax measure frees up funding for Capitol repairs (access required)

May 6th, 2013 · No Comments · House

When the House approved HB 2032, the leadership income tax measure, last week, its emergency clause failed to gain the necessary two-thirds majority. That had no effect on the tax cut itself, but would have delayed $60 million in income tax revenue state leaders want to set aside next fiscal year to start renovation and [...]

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(access required)">Capitol week in review (April 29-May 3) (access required)

May 3rd, 2013 · No Comments · Executive Branch, House, Senate

In some ways, this week was like most as a legislative session moves into May, heading down the homestretch toward sine die adjournment. Legislative leaders and the governor came together on major issues, even kicking out a state budget relatively early in the process. Easy-peasy, right?

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(access required)">Final two measures in leadership deal pass House; tax cut bill hung up on emergency clause vote (access required)

May 1st, 2013 · No Comments · House

House members approved House Speaker T.W. Shannon’s capital infrastructure bill and the leadership income tax cut Wednesday afternoon—but the latter remains in the House due to defeat of its emergency clause.

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