Facebook Twitter K1-TEXT Email Print

News

Opinion

Posted: Feb 07, 2024 9:29 AMUpdated: Feb 07, 2024 9:29 AM

KANE COLUMN: There's Never Been A Better Time to Cut Taxes

Share on RSS

 

Rep. John B. Kane

Our legislative session officially began on Feb. 5, but the State Capitol has been busy preparing all month.

Gov. Kevin Stitt kicked off the second session of the 59th Legislature with his annual State of the State address. He emphasized a reduction of .25% in income tax, expanding choices for charter schools, enhancing the state's business environment, and discontinuing subsidies for low-enrollment and low-graduation-rate higher learning institutions as key focuses for 2024.

The governor made it abundantly clear that illegal activities are not tolerated in Oklahoma. Justice will be served, and you will face the consequences of your actions.

He emphasized Oklahoma's commitment to fair sentences and belief in the potential for redemption. Everyone deserves a second chance to turn their lives around, and the State of Oklahoma has worked tirelessly to establish programs aimed at both prosecuting crimes and providing rehabilitation for individuals struggling with substance abuse and mental health issues.

In his speech, the governor also renewed this call for tax cuts. Gov. Stitt has called the Legislature into special session three times to cut taxes. Personally, I believe there has never been a better time to cut taxes in Oklahoma. We have record-high savings, earnings estimates, inflation and support.

Last week, the House met in special session, passing a bill that would cut the income tax rate by 0.25% retroactively to include 2023 tax filers and those going forward. This would reduce the top tax rate from 4.75% to 4.50% and eliminate the tax completely for those earning the least in the state.

Senate leadership, however, has said they do not plan to cut taxes until they have final revenue certifications from the state Board of Equalization, which happens mid-February. That chamber met in special session but adjourned to a call of the chair before we could pass our tax legislation to them. However, the Speaker of the House has introduced several measures for our regular legislative session that started this past week, so there's still hope for an income tax cut for Oklahoma taxpayers.

It is such an honor and privilege to represent you at the State Capitol. I want to encourage any constituent with questions or concerns regarding legislation to reach out to my office at 405-557-7358 or at john.kane@okhouse.gov.

John Kane, a Republican, serves House District 11 in the Oklahoma House of Representatives, which covers Tulsa and Washington counties.


« Back to News