OKLAHOMA CITY – Oklahoma House Democrats have partnered with state Auditor and Inspector Gary Jones to create a revenue package to help end the state’s current budget crisis and provide teachers and state employees with a pay raise.
“One of the primary issues we had with the Step Up Oklahoma plan was that the primary source of its funding came from regressive taxes,” said House Minority Leader Steve Kouplen, D-Beggs. “This plan raises a similar amount of revenue, but it does so in a way that is equitable for both high- and low-wage earners.”
4. Implementing a cap on itemized deductions at $17,000 per household excluding charitable donations ($106 million). Total Revenue: $554 million
“This is a plan, that if backed by Republican leadership, we feel can pass through the House,” said Rep. Emily Virgin, D-Norman. “It fairly spreads the tax burden across multiple socioeconomic groups, and it funds government without more dangerous budget cuts.”
House Democrats project the plan could generate total revenue of $554 million.
Auditor and Inspector Jones, a Republican, issued a separate press release which did not stress the fourth item in the House minority caucus release (the cap on itemized deductions). In his separate release, Jones commented, “Instead of the one-size fits all, sweeping revenue bill that failed on Monday, I’m proposing a simpler measure that I hope both sides can agree to.”
NOTE: Editor Pat McGuigan contributed to this report.