Oklahoma House votes to limit new tax credits
Photo: Image by Photo by Emily Webb
OKLAHOMA CITY (AP) - The Oklahoma House has approved a proposal to sharply limit the tax credits the state government can approve.
Republican Rep. David Dank of Oklahoma City authored the bill and says it is the result of years of bipartisan work. The House approved the bill without opposition and sent it to the state Senate for consideration.
The bill says the public can find out who benefits from every tax cut. It would also require any proposals for new tax credits to show how much they'll cost and how they'll help Oklahoma's economy.
Dank says his proposal is trying to get a handle on the millions of dollars the state ``is passing out every year'' in tax credits and incentives.
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