“These bills improve the lives and decrease the financial burden of working Oklahoma families,” Leader Munson said. “We can start by modernizing and expanding the Sales Tax Relief Credit, which has not been updated since 1990, and as we know, prices and cost of living have only gone up. Modifying this tax credit will provide targeted financial relief for Oklahomans who need it most.
“I also filed legislation to increase the Earned Income Tax Credit (EITC) refund from 5% to 10%. This is a better alternative to an income tax cut that primarily helps the wealthiest Oklahomans and takes revenue from core functions of government. The EITC has historically had bipartisan support because the credit has been effective for families and our economy.
“Increasing the minimum wage is an obvious choice for Oklahoma as we lag behind several other states in paying our workers a livable wage. We also need to do more for our state employees. State employees should be able to participate in a Child Care Subsidy Program similar to what we had during the COVID-19 pandemic. This will be a great incentive to retain our state employees as they navigate the Governor’s new Executive Order mandating they return to in-person work, which we know will have adverse effects on child care for employees.
“I remain focused on legislation that will prioritize working Oklahoma families and expanding these tax credits, increasing wages, and making child care affordable are just a few ways we can support everyday Oklahomans and give them the best opportunities for success.”
HB 2228: Modernizes and expands Sales Tax Relief Credit. Increases the refund amount to $200 for those earning up to $75k, depending on age, disability, and number of dependents. Includes a phaseout mechanism, so if an individual starts to earn more, they are still eligible for the tax credit at a lower amount, instead of it completely going away. Modifying the tax credit protects our revenue base while providing targeted relief.
HB 2229: Increases Earned Income Tax Credit (EITC) refund from 5% to 10%.
HB 2230: Increases the minimum wage from $7.25 an hour to $16 an hour.
HB 2231: Allows all state employees, regardless of income, to participate in a Child Care Subsidy Program that would be administered by the Department of Human Services.
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