Latest Information:
Local & Regional
7:05 am
Fri May 25, 2012

Tax Cut Issue Dead for this Year

OKLAHOMA CITY (AP) —Governor Mary Fallin is acknowledging a deal to cut the state's income tax won't be reached before lawmakers adjourn on Friday and that she won't call them back into a special session to address the issue.

The Republican governor said Thursday she's disappointed the House and Senate failed to reach a final agreement on what was one of her top priorities for the legislative session.

Fallin and legislative leaders announced last week a deal to cut the income tax from 5.25 percent to 4.8 percent — but support for that proposal quickly eroded in the House after an analysis showed it would mean a tax increase for many Oklahomans.

Fallin says she'll continue to push for a tax cut next year and that lawmakers have "a clean slate" to work on.