Governor Kevin Stitt signed the budget bills for FY 25 budget as promised during the public budget talks during the regular session. The result of the first ever public negotiations was a $12.47 billion spending plan for state government.
Lawmakers and Stitt delivered a grocery sales tax cut and kept their budget priorities.
“This was the most transparent budget process in state history, and that is something to be proud of. Every Oklahoman had the opportunity to have a front row seat to the negotiations that took place and to see how their tax dollars were spent. The state has taken a step forward today, but our work is unfinished. I will continue to fight for more tax cuts and keeping a lid on the growth in government in Oklahoma,” said Stitt.
It was a new Senate budget process and other factors that led to the open talks. Senate President Pro Tem Greg Treat, in his final year as a legislator, is pleased with the result.
“I am proud the Senate showed true leadership in the budget transparency process and pleased the governor decided to sign it into law, while backing down from a tax cut that would have put the state on an unsustainable financial path for future legislators. I’m also proud to have co-authored the largest tax cut in state history in eliminating the state portion of the grocery tax. Once it goes into effect, it will represent more money in the pockets of all 4 million Oklahomans.”
House Speaker Charles McCall agreed with that sentiment.
“We appreciate Gov. Stitt honoring his commitment to sign and support a strong budget made possible due to the economic environment created by Conservative leadership in the House.
“Overall, spending is down 5.3% compared to last year, while only exercising 89% of overall budget authority. The House is proud to have championed, for a third straight year, a personal income tax cut and a path to zero as future revenues rise, in addition to the repeal of the states grocery tax. We appreciate Gov. Stitt’s support of these efforts as well, and hope to see them prioritized in the future,” said McCall.
The Governor wished the outgoing leadership well and looked to the future.
“As Speaker McCall and Pro Tem Treat wrap up their final year in office, I want to commend them on their efforts to leave a legacy of transparency. I look forward to working with their successors and expanding on those relationships and the progress made this year.”
The new budget goes into effect on July 1, 2024.
