Newspaper article THE JOURNAL RECORD

State Revenues Surge 12.3% in December

Newspaper article THE JOURNAL RECORD

State Revenues Surge 12.3% in December

Article excerpt

State revenue collections finished strong as the calendar year came to a close, but officials differ on the reasons for the growth.

A report from the Office of State Finance showed tax collections in December topped December 1995's total by $32.6 million, or 12.3 percent.

Finance Director Tom Daxon, a secretary of Republican Gov. Frank Keating's cabinet, said revenue gains appear to be part of a national trend by which almost all states have shown substantial increases. Daxon quoted national surveys that showed average growth of 7.4 percent, compared with Oklahoma's 8.5 percent increase. Sen. Kelly Haney, D-Seminole, Senate appropriations chairman, said the increase in tax collections was a sign the state is on an economic roll because of policies adopted by the Democrat- controlled Legislature in recent years. "Our economy is growing so fast that even the budget experts can't keep up with it," Haney said. "The economic plan for Oklahoma is on the right track." The $296.4 million collected for December was $17.4 million, or 6. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.