OK House and Senate Pass Tax Cuts

The Oklahoma House passed HB1547 and the state Senate passed SB435. The major piece of HB 1547 was the reduction in the top state income tax rate. HB1547 lowers the top tax rate from 6.65% to 6.25%. An analysis by the Community Action Project of Tulsa County shows that this reduction 1) benefits the top 5% of wage earners the most and 2) does not guarantee any positive impact on Oklahoma's economic growth.

full report:                                                                                                                               “Is Lowering Oklahoma’s Top Income Tax Rate What the State Needs?”