OKLAHOMA CITY-Governor Frank Keating today agreed to amend his call for the special legislative session to include enacting a sales tax holiday. State Senator Jonathan Nichols, a leader in the fight to establish a sales tax holiday in Oklahoma, applauded the governor's decision.
"Everyone from the President to the leaders of both parties in Congress are looking for ways to stimulate the nation's economy and encourage Americans to go back to their favorite stores and spend their money," said Nichols. "Providing a sales tax holiday around Thanksgiving will give Oklahomans a break on their holiday shopping bills and a needed boost to our economy."
Nichols believes that the current crisis facing our country furthers the need for a broad-based sales tax holiday. "With a recession looming and our country at war people are often unwilling to maintain their normal spending patterns," said Nichols. "We have to give people an extra reason to get out and support their local businesses in order to overcome the fears generated by war and a sluggish economy."
The Norman senator points to the recent success enjoyed by Crossroads Mall and the City of Bartlesville in their no sales tax weekends earlier this year to support his claims that a sales tax holiday would encourage consumer spending. "Communities that initiated no sales tax days experienced two to three times their normal sales," said Nichols. "Small, local retailers who have been hit the hardest by the current economic situation will experience immeasurable gains if we enact this holiday."
Nichols proposal to the legislature will be more broad-based than traditional sales tax holiday bills. He wants to raise the $100 limit on purchases and include more types of items eligible for sales tax relief than the traditional back to school proposals.