Monday, October 23, 2017

What's the cost of the new budget proposal?

Governor Mary Fallin, House Speaker Charles McCall, and Senate Pro Tem Mike Schulz announced a budget proposal this morning that includes a bevy of tax hikes and new spending. Not included in the initial press release was a total of the cost associated with the plan.

I asked Governor Fallin's press office for the details, but as of this hour have not received any response. I've attempted to locate the costs by looking at previous legislative plans and adjusting for the different levels, to get an idea of the figures. Here's what I've come up with (the Tulsa World also has some figures here, although they differ from mine in some instances).

Tax hikes: ~$413M to ~$458M

  • $1.50 tax on a package of cigarettes: approximately $215M (Tulsa World says $260M, which is odd given that the $215M shortfall was due to the exact same fee tax being ruled unconstitutional)
  • The plan includes taxing smokeless tobacco and cigars: about $13M (per Tulsa World's figures)
  • 6-cent fuel tax increase: based off this 2016 article, approximately $170M (Tulsa World agrees with my figure)
  • Revise taxes on alcoholic beverages: Tulsa World says about $15M

Additional spending: ~$194M to ~$225M

According to the Tulsa World, the plan also includes $25M of Rainy Day Fund monies.

If I get a response back with the official figures, I'll post it.


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