This week we have convened for both the second and third special sessions of the 58th Legislature. The second is to consider American Rescue Plan Act (ARPA) appropriations and the third is to consider inflation relief. The House passed several inflation relief bills in the 2022 regular session, and we are committed to continue delivering inflation relief for the people and businesses of Oklahoma. I know firsthand the concerns and impact that inflation has had on the residents of the 59th District. Business owners, neighbors, friends and family are feeling the weight of burdensome regulations, and we know you need help quickly. With that in mind, the House has advanced a number of bills aimed at addressing inflation concerns this week.
House Bills 1008 and 1009 contain language relating to decreases in the personal income tax rate. Currently, the top marginal personal income tax rate is 4.75 percent. Both of these measures could reduce personal income tax rates across all tax brackets by .25%.
House Bills 1011, 1012 1013, 1014, and 1015 all contain language relating to a reduction, elimination or tax credit for the state portion of the sales tax on groceries. These measures contain various solutions including an increase in the sales tax relief credit, a two year moratorium on the state portion of the grocery sales tax and a permanent elimination of the state portion of the grocery tax.
None of these plans should negatively impact the appropriated budget in the short or long term. This isn't the government's money, it is your money, and the House is working to get more of it back to you. These measures answered the call of the governor for this special session. It is now up to the Senate to select and approve the plans they are most comfortable with and send them to the governor for his approval. He has expressed appreciation for the work of the House and is awaiting action by the Senate.
That's it for this week, but thank you again for allowing me to serve you, it’s a privilege. If I can help you with anything, feel free to call my Capitol office at (405) 557- 7407 or email me at mike.dobrinski@okhouse.gov