Oklahoma Watch: Study Finds a Decade of Income Tax Cuts Deprived State of $1B This Year

“Income tax cuts approved by governors and legislators of both parties over the past decade reduced this year’s state revenue collections by more than $1 billion, according to an independent data analysis. The calculation by the Institute on Taxation and Economic Policy in Washington suggests that past income tax cuts contributed significantly to the state’s current budget shortfall. State officials have tended to place most of the blame on falling oil prices.”

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