Here’s a plan
My understanding is the Legislature doesn’t know the amount in tax incentives special interests are able to avoid paying in Oklahoma. I’m sure that makes it difficult to balance the budget — like a family trying to do the same thing without knowing how much their rent or mortgage payment is. Raising gross production taxes is the right idea, but seems to be a dealbreaker. Maybe something like this would work.
Short term: Demand that all business/industry special interests pay a larger portion of the taxes that they already owe, but currently avoid because of tax incentives. Long term: Direct and complete a comprehensive study of tax giveaways to determine who is meeting requirements. Use that information to cancel, maintain or even expand incentives as long as there is a tangible benefit to the state and we can afford the incentives.
Tim Wagner, Yukon