OCPA offers budget “plan that can pass”
OKLAHOMA CITY – The Oklahoma Council of Public Affairs (OCPA) has offered a revenue plan they are confident would pass.
“A plan that can pass also has to be one that doesn’t unfairly target the most vulnerable, working Oklahoman families and small businesses,” said OCPA President Jonathan Small.
OCPA’s plan includes:
- A gross production tax increase to 5 percent for existing wells taxed at 2 percent and for all future wells for 36 months, and 7 percent thereafter—
- A $0.75 per pack cigarette tax increase
- A cap of $10 million on the zero-emission tax credit for wind
- Send to Oklahoma voters a ballot measure dedicating all new tobacco settlement payments that currently go to the Tobacco Settlement Endowment Trust (TSET) to the state’s Medicaid budget
- Tribes in Oklahoma step up and decline to accept any future rebates from the state for the sale of cigarettes and tobacco products
The plan was presented by the OCPA on Monday, hours before the House began debating on the Step Up Oklahoma plan. The measure called for tax increases on tobacco, motor fuel, gross production tax on wells, and wind energy.
“There is billions of dollars mismanagement in Oklahoma government that is not being dealt with, and that’s been allowed to be ignored for nearly eight years,” Small said. “A number of the bills that they’re using right now could be amended with these provisions. We feel like we’re proposing reflects a majority of what Oklahomans want.”
According to the OCPA, this plan provides more than $505 million annually.