Fallin Pushing For Cut In State's Top Tax Rate

Sunday, February 10th 2013, 2:52 pm
By: News On 6

Many Oklahoma Republicans say they are determined to pass an income tax cut this year, even though it may not have a great impact on the average resident's pocketbook.

In fact, 40 percent of the state's earners wouldn't be eligible for the reduction which would reduce the state's top income tax rate. The top rate applies to Oklahomans who earn more than $87,000 annually.

Republican Gov. Mary Fallin failed in her push for a much larger tax cut last year and GOP members say they are determined to reduce the income tax, even in a modest form.

2/4/2013 Related Story: Governor Proposes Cut In Oklahoma's Income Tax Rate

Republicans control both Houses. If they stay united on the issue, the bill should reach Fallin's desk.

Some legislators have proposed other tax cuts but the focus this session is on Fallin's 0.25 percent cut.

For the typical Oklahoman, that would come to about $80 per year, a little over $6 per month.