Oklahoma Republicans Unveil Plan for Deep Tax Cuts - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

Oklahoma Republicans Unveil Plan for Deep Tax Cuts

 

OKLAHOMA CITY (AP) _ A group of House and Senate Republicans have introduced a plan to deeply slash Oklahoma's top personal income tax rate over the next four years.
 
Bills filed this week in the House and Senate would slash the rate from 5.25 percent to 4.75 percent in January, with additional cuts of one quarter of 1 percent each year until the rate reaches 4 percent in 2018. Each quarter-percent cut costs the state about $125 million in revenue annually, but supporters say the cuts will ultimately lead to increased revenues.
 
The House and Senate authors did not include House Speaker T.W. Shannon or Senate President Pro Tem Brian Bingman, who are expected to author their own income tax cut bills.
 
The Oklahoma Supreme Court ruled last year's tax cut bill was unconstitutional.

 

  • Local NewsNewsMore>>

  • Olympic gymnastics ex-doctor pleads guilty to sex charges

    Olympic gymnastics ex-doctor pleads guilty to sex charges

    Wednesday, November 22 2017 1:51 AM EST2017-11-22 06:51:40 GMT
    Wednesday, November 22 2017 8:42 PM EST2017-11-23 01:42:55 GMT

    Olympic gymnasts Aly Raisman, McKayla Maroney and Gabby Douglas are among the women who have publicly said they were among the doctor's victims.

    Olympic gymnasts Aly Raisman, McKayla Maroney and Gabby Douglas are among the women who have publicly said they were among the doctor's victims.

  • Cold War drama caught on video as N. Korean soldier escapes

    Cold War drama caught on video as N. Korean soldier escapes

    Wednesday, November 22 2017 2:11 AM EST2017-11-22 07:11:49 GMT
    Wednesday, November 22 2017 8:33 PM EST2017-11-23 01:33:17 GMT

    On a cold, grey afternoon, a lone North Korean soldier races toward freedom, the shock of his comrades palpable as they realize he is defecting to the South and start sprinting after him.

    On a cold, grey afternoon, a lone North Korean soldier races toward freedom, the shock of his comrades palpable as they realize he is defecting to the South and start sprinting after him.

  • Pro-Roy Moore group fundraises off Trump's near endorsement

    Pro-Roy Moore group fundraises off Trump's near endorsement

    Wednesday, November 22 2017 3:12 AM EST2017-11-22 08:12:08 GMT
    Wednesday, November 22 2017 8:23 PM EST2017-11-23 01:23:42 GMT

    Trump, who won election despite facing more than a dozen accusations of sexual misconduct himself, is discounting accusations of sexual misconduct against Alabama Senate candidate Roy Moore, telling voters not to support his "liberal" rival.

    Trump, who won election despite facing more than a dozen accusations of sexual misconduct himself, is discounting accusations of sexual misconduct against Alabama Senate candidate Roy Moore, telling voters not to support his "liberal" rival.

Powered by Frankly