Monday, December 26, 2011

Noted Quote: 'We'll clean up the tax code'

“What’s happened over the course of time is that Legislature has implemented various tax incentives and tax credits and things of that nature, many of which were set to expire at a date certain.

“I think it was Ronald Reagan who said that the closest thing to eternal life is a government program. I think he was probably onto something there, because none of these tax credits have gone away.

“We suspect many of them have lived their life, expired their usefulness, they’ve served their purpose, or they may even have been misused or abused.

“Chairman [David] Dank and his committee have diligently worked to establish some objective criteria based on our state’s Constitution, that each and every tax credit will have to meet, in order to stay on the books.

“Certainly, we want Oklahoma to be competitive with … other states, but also want to be extremely responsible with the resources, the taxpayers’ money, that we have been entrusted with.

“So, we will take a close look at our state’s tax codes. I suspect we will begin to clean up and probably eliminate some of the tax credits either have lived their life and served their purpose, or which need to expire." ~ House Speaker Kris Steele, as quoted by Pat McGuigan/

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