State leaders are calling for the Legislature to consider revising a income tax cut trigger which could be activated even as the state faces a $868 million budget gap. The Associated Press (via the Tulsa World) reports Senator Ron Sharp is proposing to raise the trigger from $100 million in revenue increases to $600 million. If the cut is triggered, the top income tax rate would be reduced from five percent to 4.85 percent.
Read the Associated Press story here.
