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Proposed Tax Reforms Struggle to Pass (Apr 03, 2012)

OKLAHOMA CITY (AP) - Sweeping proposals by the governor and other GOP leaders to dramatically slash, and ultimately eliminate, the state's income tax remain on life support in the Oklahoma Legislature as opposition mounts to getting rid of the various tax exemptions and credits needed to pay for the proposals.

Gov. Mary Fallin has suggested cutting the top personal income tax rate from its current level of 5.25 percent to 3.5 percent next year, and a separate proposal endorsed by nearly one-third of House members would cut the rate next year to 2.25 percent.

The Senate Finance Committee approved both of those bills on Wednesday, but the governor's proposal passed by only one vote, and even top Republicans acknowledge those proposed cuts are too deep to get passed this year.

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