Leaders Nearing Deal on Oklahoma Income Tax Cut
OKLAHOMA CITY (AP) — A plan to cut Oklahoma's top personal income tax rate could be unveiled next week, but hinges on agreements between the House, Senate and governor's office on a workers' compensation overhaul and an eight-year infrastructure improvement plan.
State leaders acknowledged Thursday that all three issues are intertwined and part of broader negotiations on a plan to cut the income tax.
The income tax reduction has been a top priority of Governor Mary Fallin, while Senate President Pro Tem Brian Bingman has championed workers' compensation changes and House Speaker T.W. Shannon has pushed for the infrastructure improvement plan.
Shannon says he believes an agreement on all three components will be announced by Wednesday, while Bingman confirmed the three sides are "close" to a final deal.