Oklahoma House raises oil, gas production tax on some wells - KSWO 7News | Breaking News, Weather and Sports

Oklahoma House raises oil, gas production tax on some wells

OKLAHOMA CITY (AP) - The Oklahoma House has approved a measure to increase the gross production tax on oil and gas to 7 percent for some wells after defeating a proposal to impose the maximum 7 percent rate on all wells.

The House approved the measure Wednesday on a 64-31 vote. The Republican-controlled chamber tabled attempts by Democrats to raise the gross production tax for all wells as high as 7 percent. The House also defeated a Democratic proposal to raise the rate to 4 percent for all wells currently taxed at less than 4 percent.

State lawmakers are in the sixth week of a special legislative session to fill a $215 million the budget shortfall and look for long-term solutions to chronic shortfalls that have forced deep cuts to state agencies and services.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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