Hearing Set On Tax-Cut Ideas
Wednesday, September 26th 2007, 2:11 pm
By: News On 6
OKLAHOMA CITY (AP) _ A state House committee will hold a hearing as part of the growing debate over whether lawmakers should cut taxes again or spend more money on such things as highways and higher education.
In a recent interview, University of Oklahoma President David Boren called for a moratorium on tax cuts, saying reductions already approved will reduce state revenues by $600 million a year.
He says the state needs to invest more in higher education to create good jobs and improve the economy.
His comments have not stopped legislative calls for tax reductions, however. Senator Jay Paul Gumm this week called for removal of the state sales tax on groceries, calling it ``a moral imperative'' for working families.
Representative Randy Terrill, chairman of the House Revenue and Taxation Committee, has said Oklahoma's income tax rate is too high and Boren's moratorium idea is premature.
On Thursday, Terrill's committee will hear views on tax cuts from officials of two national organizations that have differing agendas.