House panel OKs tax hike bill to shore up Oklahoma budget - KSWO 7News | Breaking News, Weather and Sports

House panel OKs tax hike bill to shore up Oklahoma budget

OKLAHOMA CITY (AP) - A key Oklahoma House budget panel has passed a broad range of tax increases to shore up a hole in the budget, sending a signal that House leaders could be willing to give the package a vote on the floor this week.

The House budget committee on Tuesday voted 19-6 for the same package of taxes that cleared the full Senate a day earlier. It includes an additional tax of $1.50-per-pack on cigarettes, 6 cents on gasoline and diesel and a hike in the gross production tax on oil and gas from 2 percent to 4 percent.

The entire package would generate about $430 million in recurring revenue each year, along with about $138 million in the current fiscal year to help close that budget gap.

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 This material may not be published, broadcast, rewritten or redistributed.

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