State Lawmakers Consider Bills To Help Oklahomans With Inflation

Like many Oklahomans, Christina Williams is feeling the pain in her pocketbook. "Everything's going up and you're still getting paid the same," she said.

With inflation at 40 year highs and gas prices higher than ever, Williams is looking for some relief. "I hope it goes back down or we get some sort of help," said Williams.

State lawmakers are also hearing the concerns. Republican Representative Terry O'Donnell is one of several members of the house supporting new tax relief legislation, which they hope will save Oklahomans money both in the short and long-term.

"We're at a high water mark for money so we felt like because of the inflation, if there was ever a time to give the tax payers some relief this is the year for that," said O’Donnell.

It's proposals like House Bill 3349, which would suspend the state's four and half percent sales tax on groceries for two years.

"It's a very conservative approach to tax reduction,” said O’Donnell.

Other proposals like House Bill 3350 would permanently reduce personal income tax brackets by a quarter of a percent, which O'Donnell said would save the average tax payer $121 per year.

House Bill 4358 is another proposal that would phase out Oklahoma's corporate income tax over eight years.

And House Bill 1358 would send one time inflation relief payments of $125 to single filers and $250 to joint filers.

O'Donnell admits not everything may pass, but it's giving lawmakers a chance to explore them further.