House Committee Nixes Mazzei Tax-cut Bill
House panel shoots down Tulsa senator’s tax-cut bill
By RANDY KREHBIEL World Staff Writer on Apr 2, 2013
OKLAHOMA CITY – The state Senate’s proposal for cutting income taxes and eliminating a host of tax credits and incentives went down hard in a House subcommittee Monday.
The House Appropriations and Budget Subcommittee on Revenue and Taxation voted 11-2 against reporting out Senate Bill 585 by Sen. Mike Mazzei, R-Tulsa. That vote, should it stand through the next 10 days, means the bill would not get a hearing before the full House.
What that means for an income-tax cut this year is unclear. The House tax-cut proposal, a straight quarter-point reduction with no reform of tax preferences, is on the Senate Finance Committee’s agenda for Tuesday.
Senate President Pro Tem Brian Bingman, R-Sapulpa, has said he opposes a rate cut unless it is revenue-neutral. The House proposal, which is essentially Gov. Mary Fallin’s, would cost about $120 million a year when fully implemented, according to the Oklahoma Tax Commission.
Ack! Guys! Get a grip! Don’t screw it up like you did last year! We need SOME kind of a cut to income tax.