Budget & Tax
Time for income tax cuts for working families, small businesses
Staff | January 25, 2024
OKLAHOMA CITY (January 25, 2024)— Oklahoma Council of Public Affairs President Jonathan Small today urged lawmakers to cut Oklahoma’s personal income tax to help struggling families and encourage job growth.
“Joe Biden’s inflation has raised costs for working families and small businesses in Oklahoma by 20 percent. It’s well past time for a permanent cut in Oklahoma’s penalty on work, the personal income tax.
“For months, at extra cost to taxpayers of thousands of dollars per day, tax consumers in Oklahoma have been granted special meetings with lawmakers to solicit more taxpayer dollars. Our state government has hundreds of millions of dollars in surplus, and the tax consumers want it all.
“Four months ago, Arkansas lawmakers met in special session to cut their state’s income tax rate to 4.4 percent. It’s not too much to ask for Oklahoma taxpayers to get a quick special session to make a modest cut in our state’s personal income tax, to help grow our state’s economy and produce more jobs here.
“It’s time for an income tax cut for working Oklahoma families and small businesses.”