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House Bill 1002 passed on a 71 to 20 party-line vote. It represents a quarter of a percent income tax cut. But, the bill is unlikely to go anywhere – for the moment – as Senate leaders look to use their support for the measure as leverage on other legislative priorities.
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During a town hall with Democratic state Rep. Suzanne Schreiber on Tuesday night in Tulsa, Labor Commissioner Leslie Osborn said Oklahoma is already a minimally taxed state. According to WalletHub, Oklahoma was one of the ten least tax-burdened states in the U.S. last year.
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The Oklahoma House on Wednesday approved a personal income tax cut in a special legislative session, despite uncertainty about whether the state Senate will vote on the issue.
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The bill includes $33 billion to expand the widely used child tax credit for three years — including the tax season currently underway, provided the bill quickly passes the Senate.
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State lawmakers entered into special session Monday to discuss a quarter of a percent income tax cut for Oklahomans. Immediate changes to the tax code are unlikely. But Senate Pro Tem Greg Treat says a future tax slash could be coming.
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Refunds are expected to be up on last year and a new system being trialed in 14 states will allow taxpayers to file their 2023 federal tax return online, for free, directly with the IRS.
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Lawmakers will convene for a special session Monday to discuss cutting the income tax. Low and middle-income Oklahomans will see marginal returns compared to their wealthiest neighbors.
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Direct File will be open only to people with certain tax situations living in certain states at the outset. The free service has been criticized by Republicans and tax preparation companies.
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This Week in Oklahoma Politics panel discusses Senate President Pro Tem Greg Treat announcing his chamber will not be passing any tax cuts during the governor's special session, State Superintendent Ryan Walters tapping a far-right influencer from California to an Oklahoma library committee shortly after reports were released of thousands of dollars in travel expenses and more.
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Gov. Kevin Stitt wants to slash Oklahomans’ income taxes and he wants to see which state lawmakers agree with him.