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Oklahoma lawmakers have reached an agreement on a $12.5 billion state budget that includes significant tax changes and infrastructure investments. The budget, announced on Monday (May 12), eliminates the bottom three income tax brackets and reduces the remaining brackets by 0.25%. This move aims to provide tax relief and create a more competitive tax climate for residents and businesses in Oklahoma.
The budget agreement, unveiled by Governor Kevin Stitt, Senate President Pro Tempore Lonnie Paxton, and House Speaker Kyle Hilbert, focuses on fiscal responsibility and conservative governance. Governor Stitt emphasized that the budget delivers a tax cut for every Oklahoman while investing in critical infrastructure and public safety. The plan also includes funding for a new veterinary hospital at Oklahoma State University in Stillwater and a pediatric heart hospital at the University of Oklahoma in Oklahoma City.
However, the budget excludes a $3 million request from the State Department of Education to place Bibles in every classroom, as reported by Oklahoma Voice. State Superintendent Ryan Walters had requested this funding, along with other educational initiatives, but lawmakers questioned the necessity of spending taxpayer money on Bibles when free or low-cost alternatives are available. Walters argued that the Bibles would serve as academic resources to contextualize American history.
The budget reflects a commitment to maintaining fiscal discipline while addressing essential state needs. Governor Stitt expressed pride in the administration's efforts to cut taxes, save money, and chart a path toward zero income tax. The budget is set to be approved by the House and Senate, marking a significant step in shaping Oklahoma's financial future.