Senate Approves Revenue Bill

May 16, 2017

 

Credit KWGS News Photo

Oklahoma Senate Republicans have passed a revenue bill to generate an estimated more than $500 million through a combination of cigarette and fuel tax increases and the elimination of energy industry tax incentives.

The GOP-controlled Senate voted 36-9 on Monday for the bill with 36 votes needed to meet the three-fourths threshold required for a tax increase to pass. Three Republicans and all six Democrats voted against the bill.

It includes a $1.50-per-pack cigarette tax increase, a 6-cents-per-gallon fuel tax increase and elimination of tax incentives for the wind and energy industries.

The bill's passage comes after the House earlier in the day failed to pass the cigarette tax increase and suggests legislative leaders and the governor have yet to reach agreement on how to close an estimated $878 million hole in the budget as House leaders say a fuel tax won't pass the House.