Friday, May 18, 2012
OKLAHOMA CITY - Oklahomans will soon be saving more money in their paychecks.
The details of a last-minute deal between Gov. Mary Fallin and top lawmakers to slash income taxes were released Thursday evening.
All taypayers will get a break. Right now, the top tax rate is 5.25 percent. Next year, that will drop to 4.8 percent. Fallin says cutting taxes will help Oklahoma families recover from the recession and attract more business.
"It's also about Oklahomans' long term economic growth. We can make Oklahoma be more competitive as a state," said Fallin.
Legislatures now have to work quickly to pass the deal. The last day of the legislative session is next Friday.