Senate Budget Leader Lauds Economic Growth, Latest Revenue Report

The latest revenue report from the Office of State Finance is further evidence that Oklahoma's economy is growing and state economic policies are working, according to a Senate budget leader.

"Just when it seems like we've peaked, our economic numbers get better," said Senator Kelly Haney, chairman of the Senate Appropriations Committee. "The latest numbers indicate that we're doing a lot of things right on the economic development front."

Senator Haney was referring to the September revenue collection report issued by the Office of State Finance today.

According to the report, tax collections increased by $27.7 million in September, an 8.5 percent increase from the same period last year. The tax collection total for the first quarter of this fiscal year is up by $67.8 million or 8.1 percent higher than the same period last year.

More importantly, tax collections are outperforming projections with the current total 4.1 percent higher than the state estimate.

"When tax collections are up, it indicates the economy is growing," said Senator Haney. "The latest numbers not only reflect growth, they show that we're growing faster than state economists predicted we would. That's great news for both the public and private sectors."

Senator Haney is hoping other state leaders will recognize the good news and use it to promote the state.

"I hope Governor Keating takes a good look at the latest report and recognizes all the positive things that have been happening in Oklahoma.

"Good economic news like this can be a great business recruitment tool. The Governor needs to spend more time talking our state up instead of running it down."