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Oklahoma House Approves Tax Hike - KOAM TV 7

Oklahoma House Approves Tax Hike

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    Some Oklahoma lawmakers are looking to tax increases as they debate ways to fill a $215 million budget shortfall
    The Oklahoma House has approved a measure to increase the gross production tax on oil and gas to 7 percent for some wells after defeating a proposal to impose the maximum 7 percent rate on all wells.
    The House approved the measure Wednesday on a 64-31 vote. The Republican-controlled chamber tabled attempts by Democrats to raise the gross production tax for all wells as high as 7 percent. The House also defeated a Democratic proposal to raise the rate to 4 percent for all wells currently taxed at less than 4 percent.
    State lawmakers are in the sixth week of a special legislative session to address the budget shortfall and look for long-term solutions to chronic shortfalls that have forced deep cuts to state agencies and services.
    
 

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