Tax credits and incentives task force evaluates proposed reforms

State Rep. David Dank, chairman of the Task Force on State Tax Credits and Economic Incentives, today (Wednesday, November 30) challenged task force members to rethink the role of government in tax policy.

“Are we truly satisfied with the culture that has emerged here at the state Capitol in recent years that places so much emphasis on what state government is willing to give away?” Dank, an Republican, Oklahoma City, said in a statement sent to CapitolBeatOK.
Dank said there is broad agreement that transferable tax credits must end and listed other proposed reforms, including an end to late-session bills containing tax credits, a requirement that tax credits be tied to job creation or retention, an annual audit of every tax credit, a sunset provision for every tax credit, and “full and complete” transparency.
“I want to remind everyone of a very basic truth: every dime we hand out in tax credits results in one of two things – either someone else has to pay that extra dime to make up the difference or we have to reduce state services,” Dank said. “But we are not talking about dimes. We are talking about tens, or even hundreds, of millions of dollars. I refuse to tell the taxpayers we represent that they could not get a road repaired or that they had to pay more taxes because we gave a bushel basket full of money to someone else.”
The task force will meet Dec. 21 to approve the final report, which must be submitted to legislative leaders and the governor by Dec. 31. The report will be used to craft legislation for the 2012 legislative session.