Oklahoma Senate approves proposal to do away with earned income tax credit
OKLAHOMA CITY – Despite pleas by religious leaders across the state, Oklahoma lawmakers approved a bill that would do away with a tax credit to help the poorest Oklahomans.
On Thursday, the Oklahoma Senate passed a proposal to do away with the earned income tax credit.
The credit gives money back to the poorest Oklahomans who don’t make enough to even pay taxes.
The proposal was passed 31 to 7.
Senators will also consider two other proposals that would do away with the child tax credit and the sales tax relief credit.
On Wednesday, religious leaders pleaded with lawmakers to keep the credits and find another way to balance the budget.
If these tax credits are slashed, it’ll save the state $76 million.