Massachusetts study holds tax warning for Oklahoma
Gov. Kevin Stitt and House lawmakers, led by House Speaker Charles McCall, have endorsed putting Oklahoma’s personal income tax on a path to zero. Under that plan, Oklahoma’s personal income tax rate would be reduced by a quarter-point every time the state has a surplus of $400 million or more.
The state’s top tax rate is currently 4.75 percent.
Opponents have argued for maintaining the current tax rate and boosting state spending in various areas instead.