Comment on Oklahoma House approves tax cut, sends bill to Gov. Mary Fallin

Oklahoma House approves tax cut, sends bill to Gov. Mary Fallin

By Randy Ellis, Capitol BureauA bill cutting Oklahoma’s top income tax rate by 0.25 percent was approved by the state House of Representatives on Wednesday and is on its way to the governor. The House vote was 54-40. The tax cut measure, which is conditional on improvements to state revenues, would cut Oklahoma’s top income tax rate from 5.25 percent to 5 percent once certified projections for the state’s general revenue fund get back to where they were when the Legislature approved a tax cut last year. The earlier tax cut bill was struck down by the Oklahoma Supreme Court because it covered more than one topic. The earliest the new tax cut could take place is the 2016 tax year.Read more on NewsOK.com

 

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