tax cut

Next step will be action in the state House, where budget writers have different plans for distributing property tax help.

In his State of the State address, Governor Kevin Stitt pushed for cuts in the individual and corporate income tax rates. Now, it's up to the legislature.

Oklahoma Watch, February 5, 2025

House Bill 1002 passed on a 71 to 20 party-line vote. It represents a quarter of a percent income tax cut. But, the bill is unlikely to go anywhere – for the moment – as Senate leaders look to use their support for the measure as leverage on other legislative priorities.

Gov. Kevin Stitt says he is considering calling lawmakers into another special session on tax cuts early next year.

The proposal would give renters a cash rebate of up to 10% on rent paid in the last tax year.

Many rural businesses and farms will benefit from the tax overhaul passed Wednesday by Congress. But there’s a catch: If the changes fail to spur...