A new week brought a new tactic from Oklahoma House Democrats trying to get a vote on repealing the state’s capital gains income tax deduction.
Rep. Scott Inman tipped his hand a motion to vote on the bill was coming Monday afternoon while talking about his children being at the capitol with him a lot recently.
"My youngest, Sophia, just about 20 minutes ago, leaned over, and she said, 'Daddy, how do you spell "capital gains?"' True story, she did," Inman said. "I said, 'It's SB1086.'"
Inman noticed last week when Appropriations and Budget Chair Kevin Wallace said doing away with the deduction could hurt family farms and ranches.
"Mr. Speaker, I want to move to suspend House rules to bring Senate Bill 1086, the capital gains bill authored by Chairman Sears, to the floor that would exempt capital gains and also exempt out agriculture so that they're not punished when we eliminate this exemption," Inman said.
Inman’s attempt failed. Eliminating the deduction could bring in $120 million and help end the teacher walkout. Republican lawmakers say they approved a gross production tax hike in exchange for not voting on the capital gains bill.
Inman had another plan ready Monday.
"Our caucus wants to offer up another potential solution to fund the teacher pay raise," Inman said.
"State your motion first if you would, please," said Rep. Harold Wright, who was presiding over Monday's session.
"OK, Mr. Speaker, I move to suspend House rules in order to bring House Bill 3113 by Rep. Eric Proctor, an income tax restoration on very high earners, to the floor for a vote," Inman said.
The bill would affect individuals earning more than $100,000 a year or couples earning more than $200,000 by adding 6 and 7 percent tax brackets. The current top bracket is 5 percent, paid by anyone earning more than $7,200 or couples earning more than $12,200.
Inman’s motion was voted down, along with one to force a vote on cost of living adjustments for retired teachers.
