It's a give and take. I'm not going to like every sub-set of the proposal. I wouldn't expect anyone else to either. But in total, I can get behind it. It is much better than the prior proposals.
I agree with you on the tobacco and cigarette taxes. They are regressive. I think raising the fuel tax hits everyone pretty equally across the board. The real progressive things we could do like eliminating the credits we gave to wind industry and increasing personal income taxes for certain high tax brackets back to pre-2004 levels are just deal killers from the get-go. And I do not agree with changes in our personal income tax levels at this point. You could really stifle economic growth in the state doing that.
So I have two responses to this. First, the BPS plan only deals with how to raise revenue to fully fund teacher pay raises and classroom spending requests in the 2018-2019 fy. Second, I support a tax exemption or credit for teachers and a bill lowering taxes or implementing a credit only requires a majority approval, not a super majority like a tax raise or new tax would. This can be done anytime and could be done by the speaker with a blank bill on for consideration on the floor.
I don’t understand why this one just isn’t happening. I’m not sure either side us opppsed to it at this point. Raise the GPT and the gas tax a few cents and at least start there.Saw this in Tulsa World:
An Oklahoma nonprofit organization sponsored full-page ads in Sunday’s Oklahoman and Tulsa World calling for restoration of the seven percent gross production tax on oil and gas produced in the state. The two ads cost the nonprofit more than $22,000.
“We wanted ads to inform folks that Oklahoma oil and gas producers pay the lowest tax rates in America,” said Nathaniel Batchelder, Director of the Peace House that bought the ads.
“Because our Legislature reduced the gross production tax from seven percent to two percent, Oklahoma’s oil and gas producers are not paying their fair share to support teachers, schools and other vital services” he said.
Citing data from an Idaho study, the ads compared the total taxes paid by oil and gas producers in different states. Wyoming’s tax rate was listed as 13.4%. Texas’s tax rate was listed as 8.3%. Oklahoma’s tax rate was listed as 3.2% “Even if Oklahoma’s gross production tax rate were raised from two percent to four percent, it would still be the lowest in America,” Batchelder said.
Cuts to the state’s income tax rate from seven percent to five percent, and the cut to the gross production tax rate leave Oklahoma about a billion dollars short of revenues just ten years ago, according to economic analysts, Batchelder said. “Schools, teachers, and services to vulnerable and needy people have all been slashed,” he said. “Because state universities have less money, they must raise the cost of tuition to meet expenses,” he said. “This heavily impacts families least able to pay.”
“If the Legislature will restore Oklahoma’s gross production tax rate to seven percent, the revenue will be there to give teachers a raise and fund other vitally needed services,” Batchelder said. “Why should oil and gas producers pay lower taxes in Oklahoma than in Texas?” he asked.
“Make America GOOD Again”
You underestimate the power of the oil and gas lobby in OK.
Colorado did $200M in tax revenue in 2016. Would need to adjust that figure based on their state having 40% more population, a lot more tourists, and different culture. So maybe $60M?
Don’t they already get a free pass on earthquakes and fracking?
