Alva Review-Courier -

Oklahoma Senate GOP says OK to oil and gas tax hike


October 27, 2017

OKLAHOMA CITY (AP) — The Republican-controlled Oklahoma Senate indicated it would be willing to double the current production tax on oil and gas wells as a way to break a stalemate to fix a $215 million budget hole.

Senators approved a resolution Thursday urging their colleagues in the House to push through a package of tax hikes that includes a 4 percent tax rate on all new oil and gas wells. The current rate is 2 percent.

The Senate adopted the resolution on a voice vote, suggesting they will have enough votes to increase the gross production tax.

House Republicans put forth a series of...

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