Alva Review-Courier -

Oklahoma House, Senate reach deal on $7.7B spending plan

 


OKLAHOMA CITY (AP) — Oklahoma House and Senate leaders on Monday announced a $7.7 billion spending plan for the upcoming fiscal year that would tap into the state's savings and temporarily divert funding from pension plans and transportation projects to keep cuts to most state agencies at about 4%.

A crash in oil prices and the economic mayhem caused by the coronavirus resulted in an estimated $1.3 billion reduction in what lawmakers had expected to spend on the budget in February. Such a reduction would have led to cuts of about 17%, but House and Senate budget leaders agreed to temporar...



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