tax

sos.ok.gov

Twenty-five years ago, a majority of Oklahoma’s voters thought it was a good idea.

Today, not so much.

Back in 1992, following the passage of a controversial education funding and reform measure, House Bill 1017, Oklahoma voters pushed back against the tax increase with a state question that pretty much stopped all future tax increases.

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President Trump has proposed big tax cuts for businesses and individuals — breaks that could reduce federal revenue by trillions of dollars. Economists and tax specialists say that unless they're paid for, the tax cuts could explode budget deficits and the national debt.

The prospect has prominent Republicans and Republican members of Congress worried.

Back in 2012, Republican presidential nominee Mitt Romney's campaign suffered a blow when a tape was leaked of him grousing that 47 percent of Americans don't pay federal income tax. It was one of the biggest gaffes of the presidential campaign, but a new poll conducted by Ipsos for NPR suggests that many Americans forgot it.

Millions of taxpayers are rushing to complete their federal and state filings before the April 18 deadline. Among them are several million people in this country illegally, and there are signs that fewer such immigrants are filing than in years past.

Joe Wertz / StateImpact Oklahoma

The 2017 legislative session is beyond the halfway point and the clock is ticking on lawmakers who have until the end of May to set the state’s budget and plug an $870 million funding hole. Legislators say every option is on the table, including one with growing public support: Increasing taxes on oil and gas.

First, it was state Democrats like minority leader Scott Inman, who have long argued Oklahoma’s taxes are too generous for oil and gas companies.

Nearly 3/4 of Oklahoma voters oppose a half-cent tax on wind-generated electricity proposed by Gov. Mary Fallin, The Oklahoman’s Paul Monies reports a poll sponsored by a wind advocacy group shows. “The State Chamber also is voicing opposition to the plan.”

Lt. Gov. Todd Lamb is announcing his resignation from his position as Oklahoma's small business advocate on Gov. Mary Fallin's cabinet, citing a disagreement with Fallin over her plans to broaden the sales tax.

Lamb - who's considered a likely candidate for governor in 2018 - says he felt it was best to step aside from his cabinet post because he's unwilling to be an advocate for the tax proposals.

Oklahoma lawmakers are staring into a budget hole that's nearly $900 million deep — and they might not be able to cut their way out of it. Legislators are considering tax increases to help fund state government, and one idea is gaining traction: hiking taxes on gasoline and diesel.

Editor's note: NPR will also be fact-checking Democratic nominee Hillary Clinton's planned economic speech this Thursday.

Donald Trump is coming off a week of disastrous headlines and cratering poll numbers. His major economic speech on Monday at the Detroit Economic Club, a vision described by his campaign as "Winning the Global Competition," was a chance to turn the page.

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