OKLAHOMA CITY – Today, House Democratic Leader Cyndi Munson, D-Oklahoma City, hosted an interim study on the benefits of modernizing and expanding the sales tax relief credit based on her bill HB 3987.
The sales tax relief credit, created in 1990, is meant to help those who need it most by targeting tax relief to middle and low-income families. The study explored how it has lost its value over the years and the credit has remained frozen at $40. The study also examined the benefits of expanding eligibility for the credit and addressing a phase-out plan for those who already receive the credit.
The study included presentations by an Oklahoman with lived experience, Oklahoma Policy Institute, and the Institute on Taxation and Economic Policy.
“Lowering costs for working Oklahomans remains a priority for House Democrats,” said Leader Munson. “By modernizing and expanding the sales tax relief credit, we will be providing relief for working Oklahoma families who need it most while protecting our revenue base. Like the elimination of the state sales tax on groceries, I am hopeful for bipartisan support to truly address the economic challenges Oklahoma families are facing across the state.”