OFRG Applauds Senate for Tax Reforms
For Immediate Release
March 4, 2009
Contact: Peter J. Rudy, Communications Director
Oklahomans for Responsible Government
(405) 606-6565
E-mail: press@ofrg.org
OFRG Applauds Senate for Tax Reforms
Three bills passed in two days should help provide real stimulus to economy
(Oklahoma City, OK) Three bills that address Oklahomans for Responsible Government’s tax reform agenda won Senate approval this week.
On Tuesday, the Senate passed SB 315 by Sen. Mike Mazzei (R-Tulsa) which would eliminate the need for an economic trigger to lower the income tax rate to 5.25% starting in the next tax year. Today, the Senate overwhelmingly supported SB 318, also by Sen. Mazzei, which aims to gradually reduce the sales tax on groceries until it’s eliminated in five years. Also today, the Senate approved SJR 5 by Sen. Jim Reynolds (R-Oklahoma City) that puts to a vote of the people whether annual property tax increases should be capped at 2.5% or the rate of inflation, whichever is lower.
“Reducing the tax burden on Oklahomans will stimulate the economy and make the state more attractive to businesses,” said OFRG Executive Director Brian Downs. “Limiting property tax increases will have the added benefit of preventing government from growing faster than the rate of inflation.”
Similar bills are being worked on in the House and could get voted on in the next few weeks. OFRG will continue to monitor the above Senate measures as they make their way to the House for consideration and monitor the budget process to see if these significant tax reforms can be advanced.
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Oklahomans for Responsible Government is a 501(c)(4) organization dedicated to promoting fiscal responsibility, transparency, and accountability in state government. For more information, please visit www.ofrg.org.