Tuesday, February 21, 2012
Governor Says Additional $47.2 Million Should Go Toward Tax Cuts
OKLAHOMA CITY – Governor Mary Fallin today welcomed the news of an additional expenditure authority of $47.2 million in state revenue as presented to the Board of Equalization. The latest estimates set total appropriations authority at $6,579,752,153, which is $47.2 million more than the previous estimate from December. Additionally, the board announced that, according to the revised estimates for the current fiscal year, $319 million likely will be deposited into the state’s Rainy Day Fund.
“The increase in certified revenue is another positive signal that Oklahoma’s economy continues to bounce back. It’s also great evidence that our pro-growth, pro-business reforms and fiscally sound policy decisions are paying off,” Fallin said.
“The best way to continue our prosperity and ensure Oklahoma remains economically competitive is to return this money to families in the form of an across-the-board tax cut rather than pursuing more government bureaucracy.
“While it’s great news that the state has more revenue than expected, it should not be seen as an excuse to increase government bureaucracy or to go on a spending spree. It’s important we continue to pursue policies to ‘right-size’ government and to save taxpayer dollars through increased efficiencies and government modernizations.”