Brown, Cannaday Deride 'Reckless' Tax Cuts
State Reps. Ed Cannaday, (left) Porum Democrat, and Mike Brown, (right) Fort Gibson Democrat, said today Oklahoma "cannot expand its economic base and provide the needed labor force and infrastructure while instituting reckless tax-cutting programs."
They made their joint statement after officials of the Oklahoma City and Metro Tulsa Chambers of Commerce announced their opposition to expanding state tax cuts at a recent hearing.
"It is encouraging to see business leaders acknowledge something that many of us in the Legislature have been proclaiming for some time," Cannaday said.
The chambers announced their position during a House Economic Development and Financial Services Committee interim study on the issue of restructuring the Oklahoma Opportunity Fund. The Oklahoma Supreme Court recently ruled that the fund's Review Board was unconstitutional because it violates the separation of powers portion of the Oklahoma Constitution.
As part of the review of the Opportunity Fund, lawmakers focused on funding for projects that provide "a significant economic benefit to the state." The goal of the Opportunity Fund was to have state money that can be made immediately available to entice businesses to locate in the state.
"When officials were asked about the potential conflict between the Legislature's continued focus on cutting state taxes and expanding this business incentive program, the presidents of the Oklahoma City and Tulsa Chambers of Commerce both stated unequivocally that having low state taxes is not an incentive that spurs a state's economic growth," Cannaday said. "Roy Williams said that 'cheapest is not best.' I hope my colleagues will take note."
They made their joint statement after officials of the Oklahoma City and Metro Tulsa Chambers of Commerce announced their opposition to expanding state tax cuts at a recent hearing.
"It is encouraging to see business leaders acknowledge something that many of us in the Legislature have been proclaiming for some time," Cannaday said.
The chambers announced their position during a House Economic Development and Financial Services Committee interim study on the issue of restructuring the Oklahoma Opportunity Fund. The Oklahoma Supreme Court recently ruled that the fund's Review Board was unconstitutional because it violates the separation of powers portion of the Oklahoma Constitution.
As part of the review of the Opportunity Fund, lawmakers focused on funding for projects that provide "a significant economic benefit to the state." The goal of the Opportunity Fund was to have state money that can be made immediately available to entice businesses to locate in the state.
"When officials were asked about the potential conflict between the Legislature's continued focus on cutting state taxes and expanding this business incentive program, the presidents of the Oklahoma City and Tulsa Chambers of Commerce both stated unequivocally that having low state taxes is not an incentive that spurs a state's economic growth," Cannaday said. "Roy Williams said that 'cheapest is not best.' I hope my colleagues will take note."
Labels: Ed Cannaday, Mike Brown
posted by Mike McCarville @ 12:26 PM
<< Home