Pauls Valley, OK, Pauls Valley Democrat

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February 27, 2014

Senate passes Okla. income tax cut with trigger

OKLAHOMA CITY — The Oklahoma Senate has approved a plan to cut the state's top individual income tax rate once revenue collections return to 2013 levels.

Senate President Pro Tem Brian Bingman's bill passed Thursday on a 32-10 vote, with mostly Democrats opposing it. It now heads to the House, which is considering a separate tax cut bill.

The Senate-approved plan would cut the top rate from 5.25 percent to 5 percent once certified collections to Oklahoma's General Revenue Fund increase by about $86 million.

The bill includes a second trigger that would further reduce the rate to 4.85 percent once additional revenue collection benchmarks are reached.

The Oklahoma Tax Commission estimates a .25 percent reduction amounts to about $147 million in taxes statewide annually.

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Obituaries
  • J.W. Peters

    J.W. Peters of Elmore City, Oklahoma was born to Tom and Myrtle (Travis) Peters on October 10, 1927 in Roff, Oklahoma and passed from this life on April 21, 2014 in Plano, Texas at the age of 86 years.

    April 23, 2014

  • Truman Lee McCurley

    Truman Lee McCurley, 72, formerly of Pauls Valley, passed from this life April 17, 2014 with his family at his bed side at home. Truman made his home in Tulsa.

    April 23, 2014

  • Fred E. Cochran

    Fred E. Cochran of Pauls Valley passed away April 20, 2014 in Pauls Valley, Oklahoma at the age of 74 years.

    April 23, 2014

  • Oneta K. Goss

    Oneta K. Goss of Pauls Valley passed away April 4, 2014 in Pauls Valley, Oklahoma at the age of 90 years.

    April 8, 2014

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    April 22, 2014 1 Photo

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