Articles
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Budget & Tax, Economy
Don’t hit businesses on UI experience rating
As Oklahoma begins the slow process of reopening, policy solutions for consumers and businesses will be needed to jumpstart the economy. With Oklahoma unemployment reaching record numbers, lawmakers must focus on making hiring easier for businesses. One way would be to suspend any increases to experience rating for businesses paying unemployment insurance (UI) taxes.Curtis Shelton | May 8, 2020
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Budget & Tax
House budget debate pits tax increases against spending restraint, savings
House lawmakers voted Thursday to send legislation to Gov. Kevin Stitt that relies on modest spending reductions and use of savings rather than tax increases to cover a $1.3 billion shortfall.Ray Carter | May 7, 2020
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Budget & Tax
Market downturn could wallop Oklahoma pension funds; COLA would make things worse
A new analysis from Pew Charitable Trusts provides numbers to show just how severe the impact of COVID-19 on public pensions in Oklahoma could be.Curtis Shelton | May 6, 2020
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Budget & Tax
Senate approves funding bill as Democrats hint tax increases needed
The Oklahoma Senate approved Tuesday the “general appropriation” bill to fund state government for the next year but did so over the objections of Democrats who hinted tax increases should be pursued instead of modest spending reductions.Ray Carter | May 6, 2020
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Budget & Tax
Legislative leaders reach budget agreement
The leaders of the Oklahoma House of Representatives and state Senate announced Monday they have reached a budget agreement.Ray Carter | May 4, 2020
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Budget & Tax, Education
How will schools spend federal COVID funds? No one knows
Oklahoma’s public K-12 schools will receive nearly $161 million through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. But officials appear to have little idea how the money will be spent beyond extremely broad categories that could include a multitude of expenses.Ray Carter | April 23, 2020
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Budget & Tax
State-tribal impasse breaks; new casino compacts signed
In what he called an “historic day,” Gov. Kevin Stitt has signed new state-tribal casino gaming agreements with the Otoe-Missouria Tribe and the Comanche Nation.Ray Carter | April 22, 2020
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Budget & Tax
Amid state budget crunch, shift to virtual learning should save millions
On March 25 the Oklahoma State Board of Education voted to close all public schools, and students and teachers began preparing for online learning. These closures provide an opportunity for cost savings while the lights are off.Curtis Shelton | April 21, 2020
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Budget & Tax
No rapid recovery expected for Oklahoma’s economy
Employment in Oklahoma is not expected to rebound to pre-coronavirus levels for two years, and state tax collections are falling to 2016 levels. In response, Gov. Kevin Stitt called on lawmakers to tap state savings and to reduce spending to “smooth out” financial challenges over the next few years.Ray Carter | April 21, 2020
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Budget & Tax
Democrats oppose any reduction in state spending
The shutdowns caused by the government’s COVID-19 response have devastated business and family budgets across Oklahoma, forcing many working families to make hard financial choices.Ray Carter | April 20, 2020