OK Lawmakers Pass Bill To Take Back Part Of Tax Reduction - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |

OK Lawmakers Pass Bill To Take Back Part Of Tax Reduction

Posted: Updated:
[File Photo] [File Photo]

The state senate nixed a planned "tax cut" as they scramble to bridge a massive budget deficit.

Back in 2014, the legislature approved a two-part state income tax reduction package. On Monday, lawmakers passed a bill to take part of it back.

The legislature is facing a roughly $900-million budget deficit, and lawmakers say they simply can't afford the promised income tax break. The first break lowered the sales tax rate from 5.25 percent to 5 percent. This one would have lowered the rate to 4.85 percent.

"Repeals the language for the next tax cut leaving our current income tax at the present rate of 5.0 percent. We'll leave it to a future legislature to decide whether income tax needs to be cut further," said Sen. Roger Thompson (R-Dist. 8).

The income tax cut would have cost the state about $97-million. The bill now moves to the State House of Representatives.

Live Radar

WARN Interactive


  • Business News

    Find news on Oklahoma's economy, local business, the banking industry and more.

  • Murrah Bombing Timeline

    Learn more about the events leading up to and following the bombing.

  • Your Vote Counts

    Hear both sides of Oklahoma politics with Your Vote Counts.

Powered by Frankly
News 9
7401 N. Kelley Ave.
Oklahoma City, OK 73111
News9.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KWTV. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.