State Leaders Discuss Reducing Oklahoma Income Tax

Wednesday, December 7th 2011, 4:18 pm
By: News 9

Governor Mary Fallin and Republican legislative leaders expressed a desire to further reduce Oklahoma's income tax, but acknowledge they need to proceed with caution before changing the source of about one-third of the money lawmakers spend each year.

Fallin, Senate President Pro Tem Brian Bingman and House Speaker Kris Steele each discussed a goal of further reductions to the state's top income tax rate during a forum Wednesday sponsored by the State Chamber.

Bingman says he would consider a 10-year plan to reduce the rate over time. Fallin says the reduction would "have to be gradual."

Meanwhile, Democratic leaders in the House and Senate both expressed serious reservations about cutting the income tax. They say it will further erode important functions of government such as education and transportation infrastructure.