Current Weather
The Spy FM

Gov Still Supports Tax Cut Despite Shortfall

Filed by Michael Cross in Feature, Local News, News, Oklahoma Votes, Politics.
February 18, 2014

Click here to download audio

Lawmakers are looking at less money to spend in upcoming budget negotiations.

A shortfall of more than $188 million was announced Tuesday.

The State Equalization Board approved a budget of nearly seven billion dollars for the 2015 year which includes a drop of 2.6% from last year.

David Blatt with the left-leaning Oklahoma Policy Institute says this means cuts to agencies which are already facing tough decisions.

“The legislature’s going to have be open to some creative ideas whether it’s curbing tax breaks whether it’s accepting federal funds to expand health care coverage.”

Governor Fallin says despite the shortfall she still strongly supports cutting the top income tax from 5.25% to 5%.

“As you’ve seen in the budget that we’ve put forth just cutting 1% of our spending in our state, so we think that’s manageable and doable”

State finance officials say the shortfall might be the result of bad projections of corporate income tax collections which came in lower than estimated.


Leave a Reply

12AM to 5AM The Spy

The Spy

An eclectic mix of the Spy's library of more than 10,000 songs curated by Ferris O'Brien.

Listen Live Now!

5AM to 9AM Morning Edition

Morning Edition

For more than two decades, NPR's Morning Edition has prepared listeners for the day ahead with two hours of up-to-the-minute news, background analysis, commentary, and coverage of arts and sports.

View the program guide!

9AM to 10AM The Takeaway

The Takeaway

A fresh alternative in morning news, "The Takeaway" provides a breadth and depth of world, national and regional news coverage that is unprecedented in public media.

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center