Oklahoma’s economy remains sluggish—an understatement—as lawmakers continue to try to find solutions to the state’s $1.3 billion budget deficit. And things continue to go in the wrong direction. In March the state received $17 million less in gross receipts than a year ago at the same time, according to The Norman Transcript.That marks the eleventh consecutive month the state has collected fewer taxes than the previous year.
Oil and natural gas production was also lower than the same month in the prior year—for the fifteenth consecutive month.
Income tax revenues also declined. According to a report by State Treasurer Ken Miller, “Gross income taxes generated $4.3 billion for the April 2015-March 2016 period, reflecting a decrease of $17.3 million or 0.4 percent from the April 2014-March 2015 period.”
