OPEA

Thursday, April 29, the Oklahoma Public Employees Association issued a press release calling for a “share the burden” approach to the state's budget crisis.

“Critical services agencies provide to both the general population and our state’s most vulnerable citizens could suffer if burden of the cuts is not shared,” said OPEA Executive Director Sterling Zearley. “Suspending tax credits and balancing the cuts across all functions of government will be painful, but will help mitigate the crisis.”

“Several tax credits have grown exponentially in the past few years,” said Zearley. “In this crisis, all tax credits should be on the table to be suspended or capped at a reasonable rate.”

According to data from the Oklahoma Tax Commission, the income tax credit for investment and the rural business venture tax credit alone grew from $43 million in 2006 to $164 million in 2008. Oklahoma had 153 tax expenditures or credits of more than $10 million totaling $4.5 billion in 2008.

“Suspending or capping selected tax credits could save the state between $150 and $200 million,” continued Zearley. “This revenue could keep child welfare workers on the job, pay to care for our veterans, help monitor drinking water, and keep our roads clear in next year’s snow and ice storms.”

In addition, OPEA supports a balanced approach to the budget, which spreads the cuts across all functions of government.

“No part of the budget should be held harmless from the cuts,” said Zearley. “To make it through the next year, Oklahomans must come together in shared sacrifice to protect essential services and our most vulnerable citizens.”