House Speaker Charles McCall is advancing measures to reduce corporate and personal income taxes.
“I have introduced these bills to largely start a conversation about tax relief in our state given the rebound from the pandemic and to make our state’s profile more competitive for jobs and industry in the future,” McCall, R-Atoka, said Thursday. He intends to move the bills along through the legislative process in this session.
The language on House Bill 2041 is being worked on, but the goal is to reduce the top personal income tax to below 5%, McCall said.
A quarter of a percent drop in the personal income tax would reduce money to the general revenue fund by $185 million, McCall said, noting that the state has
State House speaker looks to cut corporate, income taxes
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Lawmakers, utilities pledge efforts to mitigate skyrocketing energy costs
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By Janelle Stecklein/ CNHI State Reporter Feb 22, 2021
DERRICK JAMES | Staff file photo
OKLAHOMA CITY â The natural gas costs incurred by utility providers trying to keep the heat and lights on in Oklahoma during the past two weeks are expected to cost consumers billions of dollars, officials said Monday.
During the polar snap, natural gas prices skyrocketed from the normal range of $2 to $3 to as high as $1,100 per thousand cubic feet, officials said. Those costs will likely have to be divvied up among Oklahoma s gas and electric consumers unless state or federal lawmakers step in.
State leaders on Monday tried to reassure Oklahomans that most wouldnât suddenly wake up to a hefty bill that would âsend their life into a frenzyâ or into bankruptcy as a result of the waves of winter weather, failing power infrastructure and polar temperatures that pounded the state last week.