- Associated Press - Monday, February 3, 2014

OKLAHOMA CITY (AP) - Gov. Mary Fallin wants Oklahoma legislators to approve an income tax cut and allow the state to borrow money so it can fix its crumbling Capitol.

In remarks prepared for delivery at Monday’s opening of the Oklahoma Legislature, Fallin asked lawmakers to cut the state’s top income tax rate from 5.25 percent to 5 percent. The state Supreme Court rejected a similar plan last year because it also directed money toward Capitol repairs.

Fallin says Oklahoma should borrow up to $120 million to repair the 100-year-old seat of government. The leader of the Senate has supported the plan, but House Speaker T.W. Shannon wants Oklahoma to follow a “pay-as-you-go” approach.

Fallin is seeking a 5 percent budget cut for several state agencies, asking them to cut costs without reducing services.