“It is unfortunate, but not surprising, that the revenue reductions resulting from the tax cuts of recent years are fully kicking in just as the state’s economy is showing some initial signs of weakness. The revised revenue numbers, certified today by the Board of Equalization, are a clear and sobering indication that this is going to be an extremely difficult budget year that will strain the state’s capacity to keep schools, prisons, roads and hospitals properly funded.”

“The recertification numbers create the strong likelihood of targeted and even across-the-board budget cuts in the coming year. When so many of our critical public services already lack adequate funding, further budget cuts would have a real and damaging effect on Oklahoma’s citizens, communities and economy. In order to keep basic programs and services operating, legislators will have to be open to exploring all options for balancing the budget. This must include carefully scrutinizing the tax system for unnecessary and unintentional loopholes and exemptions, as well as reviewing and prioritizing existing spending programs and tapping into the Rainy Day Fund where appropriate.”

Labels: Brad Henry, Budget, OK Legislature, Scott Meacham