Governor Fallin's Tax Plan Will Keep Oklahoma Competitive
Americans for Prosperity-Oklahoma Supports State Income Tax Repeal
OKLAHOMA CITY Americans for Prosperity Oklahoma supports Governor Mary Fallins plan to lower and eventually repeal the state income tax.
Governor Fallins income tax proposal will make Oklahoma a better place to find work, build a family, and pursue the American dream, says Stuart Jolly, State Director of Americans for Prosperity Oklahoma.
The governors plan would slash the income tax rate from 5.25 percent to 3.5 percent and gradually phase out the tax. Her plan comes amidst announcements of similar income tax repeal proposals in neighboring Missouri and Kansas and substantial tax relief proposals in seven other states.
As the governor pointed out in her State of the State address, the evidence is clear: states with low income taxes have more jobs and stronger economies, Jolly added. Reducing the tax burden will make Oklahoma more attractive to small business owners, investors, and workers.
Economic data reported by the American Legislative Exchange Council shows that states without income taxes enjoyed 59 percent average growth in gross state product and 5 percent employment rates while states with high income taxes have seen just 42 percent growth in growth rates and are losing jobs.
We congratulate Governor Fallin for this bold step in the right direction.