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CPAC Stands with Gov. Stitt’s Call for Meaningful Tax Reform

FOR IMMEDIATE RELEASE
May 26, 2022

Alexandria, VA — As the failed policies of the Biden administration continue to cause rampant inflation and shrink the United States economy, families across America need real relief which grows the economy, not election year gimmicks. As such, the Conservative Political Action Coalition (CPAC) agrees with Gov. Kevin Stitt’s call for a special session to provide meaningful tax reform for Oklahomans.

A one-time rebate of $75 ($150 to married couples), provides short-term relief, but is nowhere close to the amount needed to cope with the extra $341 a month ($4,092 a year) in costs caused by Biden’s inflation. Moreover, the rebate would be taxed by the IRS, meaning that Oklahomans would subsidizing the federal government. Finally, we would be concerned about a sales tax cut that would benefit a single industry, rather than providing broad relief for the majority of Sooner families.

Oklahoma is much better served by comprehensive tax reform, which both provides relief and helps to grow the economy. We are confident the legislature will work during the special session to pass Gov. Stitt’s plan to provide a pro-growth income tax cut and to enact further relief for Oklahoma families through the elimination of the grocery tax.

“In this Biden-inflicted economic crisis, families desperately need tax relief. But mimicking Obama’s cash for clunkers program or Pelosi’s COVID cash giveaway is not the best way to help Oklahomans. We support Governor Kevin Stitt’s fiscal discipline and his pro-growth policy agenda, which will help families weather the storm and keep the state on track for future growth,” said Matt Schlapp, Chairman of the Conservative Political Action Coalition.

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