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Governor Stitt believes income tax cut is possible despite expected revenue shortfall

Summary by KFOR-TV
OKLAHOMA CITY (KFOR) — The Board of Equalization released some finalized numbers for the Fiscal Year 2026 budget and said the state is underwater by around $350 million. The Fiscal Year (FY) 2026 budget was announced on Friday at around $12.4 billion. Earlier estimates showed that numbers to be around $12.3 billion but the state income taxes along with a tax on oil and gas brought it up. There were two members of the Equalization Board who didn'…

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oklahomavoice.com broke the news in on Friday, February 14, 2025.
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