Bills Aiming To Cut Taxes Heard At Oklahoma Capitol

At the Oklahoma Capitol, state lawmakers are still looking at ways to save Oklahomans' tax dollars, but they have not yet come to an agreement.

This is the fourth week of discussions on tax cuts and the third week of the 2024 session. 

The House was set to take up a bill to cut personal income tax Tuesday, but they postponed hearing that bill for Thursday.

After a stalled quarter percent cut during January’s special session, House Speaker Charles McCall has introduced another measure to cut the personal income tax, again by a quarter percent.

This would drop the income tax from 4.75 percent to 4.50 percent and would be effective for this 2024 tax year.

Lawmakers claim this cut would save the average Oklahoman about $110 a year.

The Senate Pro Tem Greg Treat said they were still weighing their options, looking at either cutting the personal income tax or the grocery tax, but Senate leaders say the state does not have the funds to cut both.

Treat has continued to push for the elimination of the state's portion of the grocery tax, saying it will save the average Oklahoman 5.5 times more than the personal income tax cut.

The measure would not impact the municipal portion of the grocery tax.

The state House has passed a measure to cut the grocery tax, and that bill is one Senate vote away from the governor's desk.

Gov.Stitt says he will sign any tax cut that comes to his desk.

The Senate could vote to approve that measure as soon as Tuesday and because the bill has been deemed an emergency, it would go into effect immediately after being signed.