LOFT Delays Hearing Report Critiquing State s Handling Of CARES Act Funds
The Legislative Office of Fiscal Transparency (LOFT) was expected to discuss their report during a meeting on Thursday. They reviewed how the state s CARES FORWARD team spent the money for four months.
In May, the U.S. government issued the funds, passed through the CARES Act, to Oklahoma to help respond to the COVID-19 pandemic. The money was allocated by the CARES FORWARD team, which is led by state COO John Budd and made up of other members of the executive branch.
Budd was not available Thursday due to a family medical emergency and so LOFT decided to postpone the discussion, LOFT Co-Chair and Sen. Roger Thompson, R-Okemah, during the meeting.
By: Storme Jones
OKLAHOMA CITY -
The legislature’s office tasked with inspecting the finances and operations of state government submitted a draft report focused on making state budget forecasts more accurate.
Legislative Office of Fiscal Transparency (LOFT) Executive Director Mike Jackson described the current process as inefficient and lacking in communication with lawmakers.
“We recognize how hard the revenue estimation calculation is,” Jackson said. “It’s like counting stars.”
Currently, the Office of Management and Enterprise Services and the Oklahoma Tax Commission prepare a report for the Board of Equalization.
The LOFT report recommends adding input on the board from the state’s most volatile revenue sources, corporate income taxes and oil and gas production.
State Rep. Terry O Donnell
Sen. Marty Quinn (R-Claremore) and Rep. Terry OâDonnell (R-Catoosa) were two out of six legislators recognized by the State Chamber of Oklahoma, the stateâs leading voice of business, for helping Oklahoma thrive by fighting for pro-business policies at the Capitol.
Sen. Marty Quinn (R-Claremore), along with Sen. Zack Taylor (R-Seminole), received the OK 2020 Visionary Award for the legislation they carried during the 2020 session that would have made critical improvements to the unemployment insurance system.
Rep. Terry OâDonnell (R-Catoosa) and Sen. Dave Rader (R-Tulsa) each received the Guardians of Free Enterprise Award.
In 2020, OâDonnell championed legislation to bring accountability to legal actions brought by the state, and he was instrumental in making Oklahoma one of the first states to pass limits to civil liability for businesses for claims related to COVID-19.