My god. You cannot be serious. Here is the Step Up Oklahoma plan:
EDUCATION
• Increase teacher salaries by $5,000 and increase principal pay.
GOVERNANCE
•
Lower Supermajority Threshold - Lower the supermajority threshold required in the Legislature to pass revenue-enhancing measures to 60%. This restores flexibility that allows legislators to better govern complex revenue matters, while preserving a threshold higher than simple majority that protects taxpayer interests.
•
Budget Stabilization Fund - Establish a reliable annual funding mechanism to protect the budget in economic downturns.
•
Line-Item Budget - Require the passage of line-item budgets with effective legislative oversight.
•
Independent Budget Office - Creation of office specifically designed to root out waste, fraud and abuse across all government functions and identify synergies that can be gained throughout government.
•
Revenue Transparency - Revises the state budget to increase accuracy and transparency from all state agencies to better reflect all sources of revenue.
•
Revise Term Limits - Adjust term limits for state legislators to 16 cumulative years.
•
Increased Accountability for State Agencies/Streamline Agency Boards - Increase accountability to citizens by granting the Governor direct appointment power over the eight largest state agencies and dissolve those agency boards. Appointment includes Labor Commissioner.
•
Governor and Lt. Governor Reform - Run the Governor and Lt. Governor on the same ticket to encourage collaboration.
•
Supreme Court Reform - Change the process by which Supreme Court vacancies are filled in order to attract the largest yet diverse pool of qualified candidates.
•
County Government - Grant voters at the county level the authority to tailor the form and makeup of their county government to meet their local needs.
REVENUE
Leaders developed a broad compromise plan which affects taxes on:
• Cigarettes, little cigars, chewing tobacco and e-cigarettes
• The energy industry, including the gross production tax
• Motor fuels
• Wind-power generation
• Refundable income tax credits
• Gaming activities
• Personal income tax –
Click here to view the proposed simplification of state income tax
REVENUE SCENARIOS
Download Here.
•
Cigarette Tax - $243.9mm - Percentage of Total Revenue 34%
Increased by $1.50 per pack
•
Little Cigars and Chewing Tobacco & E- Cigarettes - $12.9mm - Percentage of Total Revenue 1.8%
Tax little cigars as cigarettes and levy additional 10% tax on chewing tobacco
•
Oil and Gas Gross Production Tax - $133.5mm - Percentage of Total Revenue 18.6%
All wells currently at 2% will be increased to 4% and all future wells will begin at 4% for first 36 months and move to 7% after
•
Renewables Generation Tax - $23.0mm - Percentage of Total Revenue 3.2%
$1 per MWh
•
Motor Fuel Tax - $170.4mm - Percentage of Total Revenue 23.7%
Increase rate on diesel and gasoline by $0.06 per gallon
•
Transferable / Refundable Income Tax Credits - $0* - Percentage of Total Revenue 0.0%
Cap transferability / cash refundability for coal, wind, and railroad credits effective 2018 tax year
•
Gaming Modernization - $22.0mm - Percentage of Total Revenue 3.1%
Indian casinos to use balls and dice in their craps and roulette games, which will increase the state's exclusivity fees
•
Income Tax Reform - $112.0mm - Percentage of Total Revenue 15.6%
TOTAL NEW REVENUE - $717.7mm - Percentage of Total Revenue 100%
Current Budget Shortfall - ($100.0mm)
Teacher & Principal pay raise - ($285.0mm)
Revenue for Essential Services and Budget Stabilization - $332.7mm
*Estimated that $18 M cap per tax year would have zero impact in FY18 and FY19 and $54.5M savings in FY 20.
Here is the revenue bill that was voted on by the house:
House Bill 1033XX included increases in motor fuel taxes, tobacco taxes and the gross production tax paid by oil and gas.
You cannot be so dense that you cannot see that Step Up Oklahoma plan was NEVER included in a house bill.
