After slashing taxes, Okla. struggles to fund schools, other services

[n2doc]

By Sean Murphy


OKLAHOMA CITY — Four years ago, Oklahoma’s oil patch was booming, unemployment was falling, and lawmakers were debating what to do with a $200 million surplus.

Republicans who control state government successfully pushed to reduce the top income tax rate, slash the oil and gas production tax rate from 7 percent to 2 percent, and give more tax incentives to industry.

But the boom ended, and the money dried up.

Now, the once-unwavering confidence in the wisdom of lower taxes has given way to a growing panic over how to pay for basic services, including schools, health care, and public safety. Revenue has fallen about 20 percent short of budgeted needs — for the third year in a row.

https://www.bostonglobe.com/news/nation/2017/04/27/after-slashing-taxes-oklahoma-struggles-fund-schools-other-basic-services/d3Z4z26eF7cXbN2Wgs5LzI/story.html

Same shit, different state.