“Our goal is to transform Oklahoma into the best place to do business, the best place to live, find a quality job, raise a family, and retire in all of the United States. Not just better than average, but the very best.” — State Rep. Leslie Osborn, co-sponsor HB 3038
From Eric Dondero:
The number of states with no income tax could soon increase from 9 to 10. The Oklahoma legislature is currently considering legislation that would completely abolish the tax.
From National Review, “Oklahoma Leads on Income-Tax Repeal”
Oklahoma is poised to fully repeal its income tax and join the ranks of non-income-tax states. While Oklahoma is already a relatively business-friendly, low-tax state, income-tax repeal would launch it into the top tier of the most economically competitive states and the best places to live and work.
The State House bill HB 3038 has 23 sponsors. the bill on the State Senate side SB 1587 has 4 sponsors. Oklahoma has large Republican majorites in both the House and Senate.
The plan was developed by the libertarian/conservative Oklahoma Council of Public Affairs with consultation by none other than economist Art Laffer.