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Some Legislative Leaders are Reconsidering a State Tax Cut

Lawmakers have wrapped up work on a new state budget
Oklahoma State Capitol
Lawmakers have wrapped up work on a new state budget

The Republican state senate Finance Chairman says lawmakers should consider delaying the income tax cut that went into effect January 1st. Tulsa Senator Mike Mazzei believes it’s a prudent option given the state’s dire financial predicament. Tulsa area Representative Glen Mulready, also a Republican, agrees. He doesn’t want to eliminate the income tax reduction, but says a delay or postponement until better financial times is reasonable.

A bill has been filed in the senate voiding the tax reduction and stating such a reduction cannot occur in a fiscal year when a revenue failure is declared.