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A new bill could potentially get rid of grocery tax in Oklahoma, saving Oklahomans approximately $500 annually. Photo courtesy of Pixelbay
The Oklahoma House of Representatives approved a few bills that would cut the grocery tax and reduce personal income tax on June 15, 2022. If the Senate approves the bills, the grocery tax will be removed from Oklahoma, and the individual income tax rate will be lowered from 4.75 percent to 4.5 percent. The House also approved a two-year block that would ban the rise of sales tax for the next two years. There were two separate bills for the grocery tax, one would be to remove the tax temporarily, and the other was to remove it permanently.
These bills would cost over 500 million dollars annually if they are approved. The House of Representatives said they would take budget cuts in the governor’s office and the Office of Enterprise and Management Services in order to for the bills to work. The House also passed legislation to cut 245 million from Oklahoma’s Health Care Authority for next year if this is approved.
Governor Kevin Stitt praised the House for passing the bills and said he hopes the Senate will follow.. He called for the grocery tax to be eliminated back in February of this year and said in a press release he is proud to see this happening. Stitt’s team did an estimate that each family would save around 500 dollars annually for the state grocery tax removal. Stitt also has stated how only 13 states in America have the grocery tax, and that he wants to move away from that.