House Report

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By State Representative Todd Russ

The Oklahoma Education Association on Friday held a press conference in Oklahoma City outlining a $906 million tax increase plan that would pay for educator and state employee pay raises as well as increase funding for schools.

The plan contains a lot of the things we’ve seen in past revenue measures that have been brought before the House and Senate as well as a few new ideas.

The new plan relies on raising the gross production tax on oil and gas wells to 5 percent, instituting a tax on wind generation, increasing the tax on tobacco products, motor fuels, hotels and motels, alcohol and car tags, capping itemized income tax deductions and restoring the Earned Income Tax credit, eliminating the capital gains tax deduction, removing tax exemptions for pre-written software, installation and delivery parity, and Internet sales tax.

 

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