$418 Million Increase In Oklahoman’s Pocket

House Bill 1955 was passed by the state Senate on Thursday and now heads to Governor Kevin Stitt’s desk which everyone expects that’s he’ll sign into law.

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Treat: Look at it as $418 million increase in Oklahomans pocket instead of $418 million revenue loss

According to Senate Pro Tem Greg Treat, passing the House Bill 1955 could save Oklahoma residents up to $ 400 per year. Reported by Blazemedia, it’s a law that will eliminate Oklahoma’s state grocery tax. He said that the relief would come late August and it’s a more substantial relief than any other proposal in this body.

Treat asks to look at the annual impact of the bill not as a $418 million revenue loss but as a $418 million increase in the pockets of Oklahoma’s residents. An additional money for them to buy groceries for their families.

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Gov. Stitt’s Expected Signature On The Bill

The bill that will abolish the grocery tax of Oklahoma is now at the desk of Governor Kevin Stitt. He is expected to sign it into law, as reported by Blazemedia.

Stitt said on Thursday, “Today, we get to fulfill a promise to all four million Oklahomans and pass the largest single year tax cut in Oklahoma history. Cutting the grocery tax means relief for all Oklahomans.” He thanked House Speaker Charles McCall, Senate Pro Tem Greg Treat, the state house, and Senate for “fighting for tax cuts.”

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