AFP Endorses Plan to Reduce State’s Personal Income Tax
OKLAHOMA CITY, Ok. – Today the Oklahoma chapter of Americans for Prosperity released the following statement regarding an agreement between House and Senate leadership and Governor Fallin on reducing the state’s personal income tax rate by 0.4 percent and moving the worker’s compensation system to an administrative system:
“AFP applauds Governor Fallin, Speaker Shannon, and Pro-Tem Bingman for coming to an agreement that provides for real tax relief for Oklahoma families,” said Matt Ball, State Director for AFP-Oklahoma.
“We must continue to make progress on income tax reductions to remain economically competitive as a state. From 2000 to 2010, the 10 best states experienced 135 percent faster personal income growth, 445 percent more new jobs, 152 percent faster economic growth and 299 percent faster population growth. When Oklahoma makes income tax policy changes, for better or worse, we immediately affect our competitiveness among the states for jobs and capital investment. By reducing our state’s personal income tax rate 0.4 percent over two years, this agreement moves Oklahoma in the right direction by providing real tax relief for Oklahoma families.
“Additionally, this agreement ensures that Oklahoma reforms its worker’s compensation system by moving from an adversarial judicial system to an administrative system,” Ball said.
“Oklahoma currently has the sixth highest worker’s compensation costs in the country. This is a primary barrier for new private sector job creation in Oklahoma. This critical reform will ensure Oklahoma is well positioned to become an economic engine for private sector job creation by achieving much needed savings for Oklahoma employers and transitioning us to a system that gets injured workers the care they need and back on the job in a timely manner.
“Lastly, AFP is very pleased to see that the Governor and House and Senate leaders have resolved to find ways to pay for state infrastructure needs without new bond issues.”