State Democratic chair questions the need for corporate tax cuts during shortfall

Oklahoma City, OK - Though Republican legislative leaders said in January that reducing revenue in our budget crisis is a bad idea, today they pushed through a measure that would significantly reduce the tax revenues generated by wireless companies, according to Oklahoma Democrats.

"This is a revenue killer in a year of fiscal crisis," said Todd Goodman, chair of the Oklahoma Democratic Party. "It seemed that the GOP leaders understood earlier that that is a bad idea. Looks like they forgot the lessons they claimed to have learned."

In January, House Speaker Chris Benge stated that, given the "tough budget year" Oklahoma was facing, "I just don't think that the timing is good to reduce revenue." (http://findarticles.com/p/articles/mi_qn4182/is_20100427/ai_n53401161/)

However, the legislature today narrowly passed SB 1589, which would reduce the ad valorem tax burden on companies installing new wireless telephone technology from about 22 percent to 12 percent.

"It just goes to show that GOP leaders at the Capitol are willing to compromise what's best for Oklahoma to curry favor with special interests," Goodman stated.

Goodman noted that the legislation is "fiscally irresponsible" and will take critical dollars from an already reduced revenue pool.

"We could have these additional dollars to fill holes in funding for education, public safety, repairs to roads and bridges and corrections. But instead, we're putting corporate welfare above what's best for Oklahoma families," he added.

"So basically, it's just another typical day at the GOP-led legislature."