Democratic budget plan eliminates tax breaks to fill $878 millio - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

Democratic budget plan eliminates tax breaks to fill $878 million gap

OKLAHOMA CITY, OK (KWTV)- On Thursday during the seventh week of the legislative session, Democrats laid out their plan to bridge an estimated $878 million budget gap and offer teachers promised raises.

According to KWTV, democrats unveiled their plan to the media to raise $1.3 billion in revenue by simply rolling back income, corporate and oil tax breaks. They consider the plan a better alternative to the Governor's plan to raise taxes on services by $840 million.

By eliminating the coal credit, capital gains exemption, and reversing income tax cuts for the wealthy, the Democrats’ plan would raise an additional $842 million.

House Republicans say their focus has been on policy issues because they have to meet certain deadlines to pass bills.

Information provided by KWTV. 

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