Friday, February 19, 2016

Corporate Tax Credits And the State Deficit

By the Watchman
  We’ve all known for several months now that Oklahoma was facing at the minimum a nine hundred million dollar shortfall in the state budget. Within the last two weeks that number has been changed to a staggering one point three billion dollar shortfall. A task force has been formed to look at the possibility of the reduction of some of the tax credits that are currently handed out by the state, but they are looking at only one hundred and eighty nine million dollars in tax exemptions.

  We at this point must ask Why Speaker Hickman hasn’t taken the initiative and acted more aggressively in reigning in these tax credits. At last count there were only 485 companies receiving these tax credits. That makes the system blatantly unfair and allows the politicians to choose who is successful and who isn’t in Oklahoma.

  The appropriated budget for the state is only $6.9 billion dollars. The only amount they are considering in reduction of tax credits is only $189 million dollars. Surely they can do better than that. Instead the Governor wants a tax increase to help cover some of the shortfall and there is a petition out there for a tax increase for education. Either one of them will make Oklahoma the highest taxed state in the union. What chance will our children have in getting an in state job then? Zero. No large company will come to Oklahoma and some may even depart the state because of these taxes. These legislators need to stop treating the Citizens of Oklahoma like idiots, because we know what they are doing.

 Oklahoma House Speaker Jeff Hickman: State agencies would be 'devastated' if education not cut.

 - Tulsa World: Capitol Report.
  The next article of interest we found was this House Speaker Jeff Hickman says he sees no way to avoid further cuts to public education next year given a $900 million hole i. Since this article was written, we know that the hole has grown to $1.3 billion dollars. With the current lack of proper leadership in the House, Senate and even the Governor’s mansion, it will be the Citizens of Oklahoma that will suffer from the  greed of the special interests.  They are more concerned about getting their campaign donations from the corporations receiving the tax breaks so they can stay in office than they are about the welfare of the state and the citizens.

  We urge every Oklahoman to contact the Speaker and Senate Pro Tem and urge them to start making deep cuts in the billions dollars of tax credits they give away every year. We also ask that you vote no, if given the chance, on any tax increases that may come our way.   And contact the Office of the Governor and ask that she not sign any tax increase bill.

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