Republican Gov. Mary Fallin says she'll outline plans for what she calls an affordable income tax cut during next month's State of the State speech, despite a projected $170 million revenue shortfall next fiscal year.
Fallin said Wednesday the details are still being worked out, but will be included in her executive budget presented to lawmakers on Feb. 3 at the start of the legislative session.
The governor must present a balanced budget to lawmakers based on about $6.96 billion in revenues the state is expected to collect next fiscal year.
An agreement among GOP leaders last year to cut income taxes from 5.25 percent to 5 percent was thrown out by the Oklahoma Supreme Court for violating a state constitution ban on having multiple subjects in a bill.
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