Prairie Public Broadcasting

State House speaker says chances bleak for more tax cuts OKLAHOMA CITY (KOSU) - Newly elected House Speaker Chris Benge says a slowing economy make it unlikely lawmakers will enact more cuts to the state income tax this year.
In the past three years, lawmakers have passed the largest tax cuts in state history, reducing the top personal income tax rate from 6.65 percent to 5.5 percent.
Benge says any additional cuts must be revenue neutral, meaning that some tax exemptions and credits may be reversed to maintain state revenue at current levels.
Earlier this week, state Treasurer Scott Meacham released a revenue report that said collections by the state's General Revenue Fund were down $38.5 million in January compared to a year earlier.

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