Category: PREDCI News

SENATE SELECT COMMITTEE ON COMPREHENSIVE TAX REFORM

SENATE SELECT COMMITTEE.

December 30, 2011

Dear Governor Fallin, President Pro Tempore Bingman and Speaker Steele:

As Co-chair of the Task Force on Comprehensive Tax Reform, I am pleased to provide to you with the report required pursuant to Senate Joint Resolution 61 (2010 Legislative Session) to study comprehensive reform for Oklahoma’s tax system.  The Task Force focused on three primary goals:

1.

Resolution of the issues surrounding taxation of intangible properties;

.

Changes to our tax code which would lower income tax rates and broaden the base of taxpayers to stimulate our economy and grow our tax revenue base for government priorities; and

.

Development of a framework for Oklahoma to become a “no-income tax” state.

Thanks to the hard work, dedication and intensive collaboration of the members of the Task Force, the following report provides recommendations to address each of the goals listed above.  In addition to four public hearings, a large number of Task Force members put in numerous hours of thought and effort during several work sessions to discuss the advantages and disadvantages of the ideas and concepts that were presented to us by guest experts at our hearings.  Our work proceeded in a very inclusive manner to make sure that adequate consideration was given to all participants in this process.

As you and members of the Legislature consider these proposals, we hope that the taxpayers of Oklahoma will be your main priority.  The non–partisan Tax Foundation has rated Oklahoma’s overall tax structure number 30 out of the 50 states when assessing our job creation environment.  We can and must do better to shift our tax code away from special interest groups who benefit from obsolete and ineffective tax preferences and toward hardworking Oklahomans who deserve to keep more of their hard earned income.  If done correctly, tax reform will lower tax rates and broaden the base of taxpayers.  This in turn will raise the standard of living for all Oklahomans and also generate an increase in government revenues for top priorities such as education and roads and bridges.  

We believe that if the following recommendations are put into action, tremendous economic benefit will result for the state of Oklahoma for years and years to come.  We hope and respectfully ask that you and the Legislature give special time and attention to this report and our recommendations.  

  • You are currently browsing the archives for the PREDCI News category.

Copyright © 2012 Lepard Cosulting, LLC. All rights reserved.