High Revenue Comes with Downside

August gross tax receipts set new record highs, including 12-month total receipts of $16.82 billion and monthly gross production tax receipts of $205.6 million. Although that is very good news for our state as a whole, the GPT is currently driven by prices of $90-perbarrel oil and $9-per-million BTU for natural gas, both of which are painful for our households. While our state has abundant wind energy facilities, the vast majority of our electricity is produced by clean natural gas, which is now priced three to four times higher than only two years ago. Because of this spike in energy prices, many citizens are now paying more to power their homes during this record summer heat than rent and mortgage payments. In addition, $5 diesel fuel is adding to the cost of all retail goods driving inflation up to an 8.5% annual rate.

The Oklahoma House and Senate are discussing returning to special session potentially later this month to continue our progress on appropriating American Rescue Plan Act funds based on requests our joint committee working groups have been approving these last few weeks. The House in June passed several bills to deliver inflation and tax relief to Oklahomans. It's possible the Senate could still take up those bills if they desire.

The drought remains an ongoing challenge for our rural ag producers, and much moisture will be needed before dry-land winter crops may be planted. Although much of Oklahoma has been federally declared a drought disaster, the state still awaits that determination from our governor. I hope that announcement is soon, allowing for additional assistance for farmers and ranchers already harmed by this year's weather.

House and Senate interim studies will continue at the capitol over the next couple months. Studies on various public education issues, rural healthcare, foster care and parental rights, along with workforce development are just a few of the dozens of studies approved for this fall.

As school is back in full swing, there is always plenty going on back home in House District 59. I look forward to seeing many of you there or on your next visit to the Capitol. Please follow regular updates on my House Facebook page or reach out anytime at (405) 557-7407 or Mike.Dobrinski@okhouse.g ov.

In your service, Mike Dobrinski