Gov. Stitt is giving the Legislature another shot at passing a personal income tax. Previously, the House has supported the idea, but the Senate has not. Maybe this time will be different?
OKLAHOMA CITY (January 16, 2024) - Today, Governor Kevin Stitt called for a special session of Oklahoma’s 59th Legislature beginning January 29, 2024, to seek a .25% reduction in the personal income tax for every Oklahoman.
“From day one, I’ve called on the Legislature to give Oklahomans a much deserved tax cut," said Governor Stitt. "With record-breaking savings and a strong economic outlook, there's not time like the present to deliver a pay raise to all Oklahomans. Let’s get this across the finish line before we head into regular session."
The Board of Equalization delivered good news at the end of 2023, demonstrating strong fiscal practices that confirmed the state's predictions for 2024 and a bright outlook for 2025. With $5.4 billion in savings, a strong economy, and fiscally conservative policies, Oklahoma is well-positioned to reduce the personal income tax burden on all four million Oklahomans.
Executive Order 2024-01 can be found here.
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