Tulsa World
Barbara Hoberock
Februaru 26, 2021
OKLAHOMA CITY — House Speaker Charles McCall is advancing measures to reduce corporate and personal income taxes.
“I have introduced these bills to largely start a conversation about tax relief in our state given the rebound from the pandemic and to make our state’s profile more competitive for jobs and industry in the future,” McCall, R-Atoka, said Thursday. He intends to move the bills along through the legislative process in this session.
The language on House Bill 2041 is being worked on, but the goal is to reduce the top personal income tax to below 5%, McCall said.
A quarter of a percent drop in the personal income tax would reduce money to the general revenue fund by $185 million, McCall said, noting that the state has over $1 billion in reserves this year.
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