Governor Mary Fallin praised the Oklahoma House of Representatives today for passing HB 2032, a bill that lowers the top income tax rate from 5.25 percent to 5.0 percent. Fallin made the proposal in her 2013 State of the State address and included it in her executive budget.
"My thanks go out to the Oklahoma House of Representatives for their support of HB 2032, an important tax cutting measure," said Fallin. "Reasonably and responsibly reducing the top rate will boost our economy and leave us with the revenue we need to support priorities like education and public safety.
"Lower taxes mean stronger economic growth and more job creation. It's important for businesses to see that, even as other states and the federal government pursue tax hikes, Oklahoma remains committed to lower taxes and smaller government."
HB 2032 is authored by Speaker Shannon in the House and President Pro Tempore Brian Bingman in the Senate.