The Oklahoma legislature is now discussing how the federal COVID-19 relief funding should be distributed, as required by the American Rescue Plan Act.
On Monday, the Oklahoma Legislature reassembled for a special session at the Capitol to address tax cuts that were requested by the governor as well as how the American Recovery and Reinvestment Act’s COVID-19 relief funds should be allocated.
Republican Governor Kevin Stitt is advocating for the reduction of the highest individual income tax rate from 4.75 percent to 4.5 percent, as well as the elimination of the state sales tax that is now levied on groceries.
“Oklahoma is one of just 13 states that imposes a food tax, and this tax has a disproportionately detrimental impact on people who are already poor. We are in a position to eliminate this tax due to our significant track record of fiscal management, and the time has come for us to do so.” Stitt remarked as soon as he announced his plan to welcome Lawmakers back to work.
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It is currently unknown whether the Republican-controlled House of Representatives and Senate will vote to pass both of these legislation. Democrats, on the other hand, are vehemently opposed to any idea that would cut the personal income tax rate.
