State Income Tax Cut Is a Wise Choice

By Rep. Brian Hill 

There has never been a more ideal time to give Oklahomans a break on their income tax.  

Oklahoma families deserve to keep more of their hard-earned money. Our state is financially  sound and, thanks to smart savings in recent years, boasts record-breaking savings. With one of  the most business-friendly environments in the country, the future of our economy is bright.  

A state tax cut could mean the difference between just getting by and truly thriving for many  families, many of whom are living paycheck to paycheck in this period of incredibly high  inflation.  

Cutting the income tax rate by 0.25% across the board means Oklahomans in the lowest tax  bracket, who currently pay a 0.25% income tax rate, would no longer pay state income tax! For  the highest earners, it’s a 5% decrease, which means more opportunities to reinvest in businesses  and continue creating jobs.  

Some may wonder that lowering taxes could destabilize our state's finances, but history tells us  that tax cuts can lead to job creation and a thriving state economy. This isn't just a short-term  fix—it's setting up generations of Oklahomans for success.  

Lowering income taxes is also a smart move to make Oklahoma more competitive and friendly  to businesses of all sizes. We have all watched over the past few years as people flee states with  high taxes. By lowering our taxes, we can draw in new businesses, jobs and residents. 

Our state's progress hinges on rewarding hard work by letting Oklahomans keep more of what  they earn. Tax dollars are, after all, the people's money, and they trust us, their elected officials,  to use it wisely. When we manage taxpayer dollars efficiently and find ourselves in times of  surplus, we need to return it to the people.  

Lowering income taxes helps families meet their needs, support their loved ones and save for  what's ahead. I'm hopeful that legislators serving the people can come together to pass tax cuts in  support of all Oklahomans.  

Rep. Brian Hill, a Republican, represents House District 47 in the Oklahoma House of  Representatives. His district includes portions of Mustang and Oklahoma City.

12/20/2023