A Weekly Update on all of the Good News about Oklahoma
Because much of the good news about our state is sometimes overlooked by state leaders and others, many positive developments and success stories in Oklahoma go unreported. It is our hope that "Oklahoma Pride," a weekly publication of the Oklahoma Senate, will ensure that the best stories about Oklahoma are told.
For example, this week in Oklahoma, did you know that......
In an effort to aid new and existing business in Oklahoma, the Senate successfully pushed through the first major tax cut of the legislative session this month. Senators gave unanimous final approval to a bill that will reduce the unemployment tax by $56 million. The legislation, pushed through by Senators Lewis Long and Ted Fisher, will cut the tax burden on Oklahoma businesses, encouraging them to roll that money back into our economy and create additional jobs. It's the second unemployment tax cut approved by the Legislature in the last three years.
The unemployment levy isn't the only business tax break the Senate advanced this year. Another measure would offer tax credits to businesses with fewer than 250 employees if they increase their pay roll from one year to the next. Yet another bill passed by the Senate this week would give tax credits for investing in venture capital firms that invest in Oklahoma small businesses.
Those are just a few examples of the business-friendly climate we are trying to foster in Oklahoma.