Equalization Board: $170-million Less to Spend
OKLAHOMA CITY (AP) — The Oklahoma Legislature is expected to have about $170 million less to spend on state programs next year, and Gov. Mary Fallin says that could affect whether she pushes for an income tax cut during the upcoming session.
Fallin said Thursday it was too early to tell whether she would push for a tax cut next year after the Supreme Court earlier this week threw out a bill she championed to cut the top personal income tax rate and provide $120 million for Capitol repairs.
The governor made the comments after the Board of Equalization certified the Legislature will have about $6.96 billion to spend on the budget for the fiscal year that begins July 1. That's about 2.4 percent less than lawmakers appropriated on the current fiscal year.