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In late 2017, Congress passed and President Donald Trump signed into law the most sweeping tax reforms in a generation. And now, many Oklahomans are seeing the benefits of those reforms in our paychecks.
Countless posts on social media have recounted the surprise of many who discovered a little (or a lot) more on their monthly pay stub. When multiplied out over the course of a year, this could mean a whole lot more money in Oklahomans’ pockets.
As governments are prone to do, however, policymakers in Oklahoma City are keen on making sure you don’t get too comfortable with your own, hard-earned money by increasing the state’s share of your taxable income and pushing for several other sweeping tax increases. Additionally, lawmakers are pushing plans to expand the number of tax brackets from six to eight, making your state returns more confusing and potentially forcing you into a higher tax rate.
In short, Oklahomans are poised to sit on the sidelines or miss the game entirely as Americans everywhere else reap the benefits of tax reform. This should make us all pause for concern.
Quite simply, we can do better.
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