OKLAHOMA CITY (February 15, 2024)—Today’s final revenue-certification by the state Board of Equalization, which determines how much money is available for legislators to appropriate this year, shows Oklahoma state government can easily provide tax cuts, Oklahoma Council of Public Affairs President Jonathan Small said today.
The Board of Equalization found that recurring revenue for the 2025 state budget is now $543 million more than recurring revenue for the current state budget year.
“Working Oklahoma families are being punished by President Biden’s inflation and ever-growing government spending,” Small said. “While state government spending has grown by billions in the last several years, the same is not true for the paychecks of Oklahoma’s working families and small businesses, who have experienced the crunch.
“Today’s revenue certification of $543 million in recurring revenue shows that state government has plenty of growth revenue available, removing the last objection raised by opponents of tax cuts. We look forward to rallying Oklahomans across the state to provide more than half a billion dollars in annual well-deserved personal income tax relief. It’s now time to cut Oklahoma’s penalty on work, the personal income tax, and let Oklahomans keep more of what they earn, control the size and growth of government, and expand jobs and opportunity.”
The Oklahoma Council of Public Affairs promotes the flourishing of the people of Oklahoma by advancing principles and policies that support free enterprise, limited government, personal responsibility, individual initiative, and strong families.