By: Journalist Kaytly Clift (OSU)
House Bill OSU-510 proposes the state of Oklahoma appropriate $55 million annually to Oklahoma-based oil and natural gas companies through the Oklahoma State Energy Office.
Rep. Lily Counts (OSU) presented House Bill OSU-510 on Saturday in the House of Representatives. The bill sparked caucusing in the House chambers, and many delegates questioned the effect this would have on Oklahoma citizens.
Rep. Savannah Burris (ORU) said she believes Oklahoma citizens should be taken care of first and the money should not be given to large oil and gas companies.
“It seems as though it was a big tax cut to big oil companies,” Rep. Burris said. “And I don’t see how it benefits Oklahoma citizens.”
Rep. Burris added, “I just think it is leaving too much discretion, and it is trying to incentivize big companies, and I’m not a big fan of helping big companies out if I don’t see it benefitting my Oklahoma people.”
Although the bill failed in the House of Representatives with a vote of 7-44, some representatives saw potential benefits for Oklahoma citizens. Rep. Ashton Tate (OSU) said the job opportunities and financial benefits to the state would be positive outcomes.
“I voted ‘yes’ on the bill because of the jobs and the money that it will bring to the state of Oklahoma,” Tate said.
Rep. Tate added, “A lot of people believed that this bill only provided the tax break for big businesses, and while it does favor the big businesses and give them a better tax break, that will help the economy and snowball that money down.”
Rep. Tate said he believes this tax break will ultimately benefit the people of Oklahoma by providing jobs and resources, boosting the economy. Because OSU-510 did not pass in the House of Representatives, it will not be sent to the Senate for consideration.