Oklahoma asks state agencies to slash budget by 15%

Oklahoma lawmakers continue to struggle with how to lessen the state's onerous budget shortfall.

As KOSU reports, Oklahoma's budget gap is inching back up toward the billion-dollar mark. Governor Mary Fallin has suggested a dramatic change to the state sales tax to eliminate certain exemptions, in hopes of turning the ship around. She says her long-term goal is to change the tax system to better fit the modern world.

Amazon will soon begin charging a sales tax in the Sooner State, reports The Oklahoman.

The online retailing behemoth will start collecting the tax beginning on March first. But, unfortunately, those extra collected funds will not go toward easing the burden of Oklahoma’s massive budget shortfall.

That’s because the extra Amazon revenue was already built into Oklahoma’s budget estimates.

An Oklahoma lawmaker is hoping to bring the Earned Income Tax Credit back to the Sooner State.

Until last year, the credit was a welcome relief for many low-income Oklahomans, by preventing them from paying more than their share of income tax. But, as KFOR reports, the Earned Income Tax Credit was abolished last year as part of an effort to plug the state’s $1.3 billion budget gap.

Oklahoma’s state auditor has called on legislators to repeal a law that would lower the state income tax.

As KOCO reports, State Auditor Gary Jones said that even though lowering taxes is politically popular, lawmakers should stop paying attention to politics and do what’s best for the State of Oklahoma.

Oklahoma’s budget gap next year could amount to well over half a billion dollars.

To plug the hole, lawmakers in Oklahoma City are discussing selling some of the state’s power plants.

As StateImpact Oklahoma reports, the Sooner State has considered the idea of selling the Grand River Dam Authority to make up for the budget shortfall. The plan would involve selling some of Oklahoma’s hydroelectric dams, as well as a coal-fired plant.