Economist: Tax code changes cost Oklahoma $2 billion in tax receipts
BY MICHAEL MCNUTT NewsOK.com
Tuesday, November 06, 2012
11/06/12 at 6:27 AM
OKLAHOMA CITY - Changes to Oklahoma's tax code in the past 12 years have helped contribute to a nearly $2 billion annual reduction in tax receipts, a University of Oklahoma economist told a House of Representatives panel Monday.
Robert Dauffenbach, associate dean and director of the Center for Economic and Management Research at OU's Price Business College, said diversifying the tax base and further reducing the state income tax rate would improve Oklahoma's business climate.
House Speaker Pro Tem Jeff Hickman said reducing and possibly eliminating the state's personal income tax would not be a quick fix.
He led an interim study on the tax, which brings in about one third of the money legislators appropriate each year.
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Original Print Headline: Tax code changes cost state $2 billion, economist says