- Associated Press - Monday, May 16, 2016

OKLAHOMA CITY (AP) - The Oklahoma Senate has given final approval to a series of bills designed to raise revenue for the state, including several that would eliminate various tax credits, including some for low-income Oklahomans.

The Senate passed four bills on Monday that would generate roughly $175 million in revenue to help close a $1.3 billion hole in next year’s state budget.

Among the bills is one that adjusts an earned-income tax credit claimed by an estimated 330,000 low-income Oklahomans that will generate about $29 million in revenue. Another bill would generate about $90 million by eliminating a double income tax deduction in Oklahoma.

The House passed several revenue bills, including one that requires motorists to obtain a new license plate, generating about $15 million for the state.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide