Claremore Daily Progress

State/Nation

April 2, 2013

Leadership bill to cut Oklahoma income tax stalls

(Continued)

OKLAHOMA CITY —

After Mazzei delayed the bill, Fallin issued a statement in which she said she’s working closely with Shannon, Bingman and individual legislators to “deliver a responsible, meaningful tax cut this year.”

“I am confident that a tax cut plan will eventually pass and be signed into law by the end of the legislative session,” Fallin said.

Rep. Earl Sears, the chairman of the House Appropriations Subcommittee on Revenue and Taxation, sponsored Mazzei’s bill in the House and said he remains confident legislators will reach a consensus on a tax cut this session.

“The actions that have been taken in the last 24 hours, it’s obvious people are frustrated over how their bills are being received in their respective chambers,” said Sears, R-Bartlesville. “What needs to happen now, everybody just needs to keep cool heads, not get frustrated, and continue the dialogue to develop and implement an income tax cut for all the people of Oklahoma.

“The last thing we need right now is a repeat of last year, when no income tax cut moved forward.”

Fallin last session proposed a bold initiative to slash Oklahoma’s top income tax rate from 5.25 percent to 3.5 percent, reduce the number of income tax brackets from seven to three, and offset much of the lost revenue by eliminating various deductions and exemptions. But that proposal fell apart in the waning days of the session after lawmakers balked at getting rid of popular deductions and couldn’t agree on how the cut would be implemented.

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