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Tag Archives: Gov. Mary Fallin

Oklahoma taps Rainy Day Fund for second consecutive year

Oklahoma State Capitol and flag. (Image: Nicolas Henderson via Flickr)

OKLAHOMA CITY (AP) — Oklahoma’s overcrowded prison system and stretched public school districts will receive $78 million from the state’s Rainy Day Fund under an emergency agreement among state Republicans leaders aimed at plugging a huge budget hole this fiscal year. It is the second consecutive year Oklahoma has tapped the fund reserved for extraordinary situations and follows a collapse ...

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Oklahoma budget hole jumps to $1.3 billion amid downturn

"Foggy Bottom Pump Jack" in Duncan, Oklahoma. (Image: duggar11 via Flickr)

OKLAHOMA CITY (AP) — Oklahoma finance officials say the hole in next year’s budget has increased to $1.3 billion, or nearly 20 percent of last year’s spending, amid depressed oil prices. The Office of Management and Enterprise Services announced Thursday that plunging revenue collections have widened the shortfall from the original projection of $900 million in December. A state panel ...

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Fallin: Disposal wells causing quakes

Oklahoma Gov. Mary Fallin publicly acknowledged the link between the state’s earthquake clusters and wastewater injection wells for the first time last week. “We all know now there is a direct correlation between the increase in earthquakes we have seen in Oklahoma and the disposal wells, based upon many different factors, whether it is volume or location or whether it ...

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Oil prices may delay Oklahoma income tax cut

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OKLAHOMA CITY  — Oklahoma residents may not get an income tax cut in 2016 because of declining oil prices. A law signed in April by Gov. Mary Fallin requires an increase in state revenue, provided in part by tax collections that rise and fall with oil prices. The state’s Secretary of Finance and Revenue tells The Oklahoman that it’s unclear whether ...

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