Monday, April 30, 2012
OKLAHOMA CITY – Governor Mary Fallin today released the following statement regarding the urgent need for Oklahoma lawmakers to pass and sign into law a significant reduction in the state income tax:
“Oklahoma families need and deserve a significant income tax reduction. Cutting taxes will not only allow our citizens to keep more of their hard earned money, it will also make Oklahoma a more competitive state to do business in and will help to create more and better jobs. Pursuing income tax cuts and tax simplification continue to be a priority of mine as I work with lawmakers to enact policies that will help to grow Oklahoma’s economy.
“Earlier this year, I proposed the ‘Oklahoma Tax Reduction and Simplification Act,’ a bold plan to dramatically cut taxes, reduce the total number of tax brackets from seven to three, and set the stage for the gradual elimination of the income tax. That plan is one of several tax-cut plans proposed this year and still being considered by the Legislature. While I do not expect my plan to be rubberstamped by legislators, I do expect them to continue to pursue the kind of tax reduction and simplification that we have been working on all legislative session.
“Moving forward, I continue to be committed to a significant tax cut for as many Oklahomans as possible. I continue to support and advocate for a simplification of the tax code that includes both the elimination of underperforming tax credits and an overall reduction in the total number of tax brackets. Finally, I will continue to fight for a plan that includes multiple year reductions in the income tax, where cuts are tied to revenue growth triggers.”