Ponca City, OK

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Oklahoma House raises oil, gas production tax on some wells

The Associated Press - November 1, 2017 5:33 pm

After the House adjourned from its scheduled business Friday morning, Oct. 27, 2017, several lawmakers remained in the chamber and visited in smaller groups. Democrat legislators huddle at bottom right while Republican members gather on the left side of the room. (AP/The Oklahoman)

OKLAHOMA CITY (AP) – The Oklahoma House has approved a measure to increase the gross production tax on oil and gas to 7 percent for some wells after defeating a proposal to impose the maximum 7 percent rate on all wells.

The House approved the measure Wednesday on a 64-31 vote. The Republican-controlled chamber tabled attempts by Democrats to raise the gross production tax for all wells as high as 7 percent. The House also defeated a Democratic proposal to raise the rate to 4 percent for all wells currently taxed at less than 4 percent.

State lawmakers are in the sixth week of a special legislative session to fill a $215 million the budget shortfall and look for long-term solutions to chronic shortfalls that have forced deep cuts to state agencies and services.

 

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