Bingman Predicts Tax Cuts On 2014 Agenda
Lawmakers predict income tax cuts will be on 2014 agenda
By BARBARA HOBEROCK World Capitol Bureau
OKLAHOMA CITY - Senate President Pro Tem Brian Bingman believes another income tax cut will be on the agenda when lawmakers return to the Capitol in February.
The Oklahoma Supreme Court on Tuesday ruled that House Bill 2032 by Bingman, R-Sapulpa, and House Speaker T.W. Shannon, R-Lawton was unconstitutional because it included more than one subject.
The measure would have reduced the top income tax rate to 5 percent from 5.25 percent on Jan. 1, 2015. It also created a fund to repair the crumbling state Capitol.
Bingman’s comments came after state officials said Gov. Mary Fallin will have about $171 million less to build her fiscal year 2015 executive budget than was available in fiscal year 2014.