Oklahoma struggles to pay for schools after slashing taxes
April 28, 2017
OKLAHOMA CITY (AP) — Four years ago, Oklahoma's oil patch was booming, unemployment was falling and state lawmakers were debating what to do with $200 million in surplus revenue.
Republicans who control state government successfully pushed to reduce the state's top income tax rate, slash the oil and gas production tax rate from 7 percent to 2 percent and give more tax incentives to industry.
But the boom ended and the money dried up. Now the once-unwavering confidence in the wisdom of lower taxes has given way to a growing panic over how to pay for basic services such as schools, health c...