Articles
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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
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Budget & Tax, Education
Online shift may save school funds, but numbers remain elusive
Now that all Oklahoma public schools have shifted to distance learning, potentially significant savings could be achieved for many previously routine expenses. But state officials do not have that data and existing law may indirectly encourage school officials to spend those savings before July.Ray Carter | April 17, 2020
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Budget & Tax, Economy, Culture & the Family
OCPA calls for CARES Act flexibility
OCPA president Jonathan Small, along with the leaders of several other think tanks from around the country, has signed a letter to federal legislative leaders calling for flexibility in the use of the CARES Act relief dollars.Curtis Shelton | April 16, 2020
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Budget & Tax
Stitt calls for spending cuts, restraint
Gov. Kevin Stitt is calling for modest cuts to state government spending in response to the current budget shortfall. That apparently puts him at odds with the Republican-controlled Legislature, which voted this week to preserve current spending levels by tapping state savings.Ray Carter | April 7, 2020
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Budget & Tax
Lawmakers advance budget bills despite governor’s objection
Members of the Oklahoma Legislature have sent three bills to the governor to address a shortfall in the current state budget, even though an apparent dispute with the governor led to the cancellation of a meeting of the committee that officially certifies shortfalls.Ray Carter | April 7, 2020
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Budget & Tax
Oklahoma’s 2020 shortfall hits $416 million
Governor Kevin Stitt announced today that state government faces a $416 million shortfall for the current budget year, which ends June 30. That’s substantially more than publicly reported figures had indicated only days earlier.Ray Carter | April 3, 2020
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Budget & Tax
Lawmakers to reconvene to consider health emergency
An executive order issued by Gov. Kevin Stitt, which declares the existence of a “health emergency in the State of Oklahoma” caused by the COVID-19 virus, also requires lawmakers to return to the Capitol on Monday, April 6, to meet in a special legislative session.Ray Carter | April 2, 2020
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Budget & Tax
COVID-19 and Oklahoma state pension plans
Increased retirement costs from a COLA increase, coupled with the sharp decline in the stock market, may put Oklahoma state pensions at risk.Curtis Shelton | April 2, 2020
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Budget & Tax, Economy
Lankford: Federal bill for stabilization, not stimulus
In 2009, as the Great Recession roiled the economy, Congress responded with an enormous “stimulus” package that supporters claimed would reignite economic growth. However, the $2 trillion legislation recently passed by Congress has more modest goals, according to U.S. Sen. James Lankford.Ray Carter | April 1, 2020