Tuesday, February 8, 2011

Legislation Would Phase Out Income Taxes

Legislation Would Phase Out Income Tax
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Contact: State Rep. Josh Cockroft
Capitol: (405) 557-7349

OKLAHOMA CITY (February 8, 2011) – Legislation authored by state Rep. Josh Cockroft would further lower the state income tax to 5 percent in 2011 and phase it out by 2016.

House Bill 1543 would reduce the income tax by 1 percent each year, down to 0 percent in 2016.

“I think that Oklahomans no longer support the state income tax and would like lawmakers to come up with a new way to fund state government,” Cockroft, R-Tecumseh, said. “Texas gets by without a state income tax and I think that Oklahoma can as well.”

Cockroft said that in addition to changing the source of revenue, the Legislature would focus on reducing state spending.

“The state needs to eliminate wasteful spending and join the 21st century as an affordable and efficient form of government,” Cockroft said. “I think that there are many places where reform and common sense will result in effective government services for less.”

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