Efforts to offset income tax cuts in Oklahoma with the elimination of tax credits have gone nowhere and suffered another blow last week with rejection of a credit moratorium/sunset bill. Efforts to restructure the municipal finance system also have gone nowhere. What we have left, then, is chipping away at the margins with incremental, modest reform.
This is what's brought the state's top personal income tax rate down to 5.25 percent and may bring it down to 5 percent by year's end. Other than that, though, don't look for any fundamental changes. Oklahomans will continue to face relatively high state and local sales tax burdens and a relatively low overall burden.
As for local control of tobacco restrictions, that fight has been as tough as restructuring the tax system.
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