More importantly, the defeat of SQ 766 could result in $60 million in newly assessed taxes on Oklahoma businesses. That could drive some businesses out of state and slow job growth at others. The economic consequences could translate into real
funding cuts for public schools. The $200 million slashed from education since 2009 due to recession is proof.
Tax policies that cost Oklahoma jobs cost Oklahoma schools funding. On the other hand, tax policies that encourage economic growth generate significant revenue for education. OSSBA's opposition to these two state questions could force true budget cuts in the future to prevent phantom cuts on paper today. It's the epitome of penny wise, dollar foolish.