Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Oklahoma Gov. Stitt, panel see $2B budget increase over last year

by February 18, 2023
February 18, 2023
Oklahoma Gov. Stitt, panel see $2B budget increase over last year

A panel led by Gov. Kevin Stitt determined Friday that Oklahoma lawmakers will have about $2 billion more to spend in next year’s budget than they did in the current one.

The Board of Equalization certified that the Legislature will have $12.6 billion to spend in the budget for the fiscal year that begins July 1. That’s an increase of $2 billion from last year’s $10.6 billion that lawmakers were authorized to spend.

The Legislature also has another $1.4 billion stashed away in state savings accounts and $700 million that was appropriated last year to help lure a manufacturing facility to Oklahoma that didn’t materialize.

Despite the rosy financial projections, Republican state Sen. Roger Thompson, the chairman of the powerful Senate Appropriations Committee, warned that much of the additional revenue lawmakers have to spend, more than $1.3 billion, is one-time cash that wasn’t spent last year. He said that revenue is non-recurring and should only be spent on one-time projects.

Thompson also cautioned that the available revenue is based on projected collections and could end up being lower, particularly if oil and natural gas prices continue to fall. The price of crude oil has fallen from about $92 per barrel at the beginning of November to about $75 per barrel this week.

‘We’ve got a warmer winter than had been anticipated … and so I think natural gas will go down as well,’ said Thompson, of Okemah. ‘And those are our two big revenue drivers.’

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Trump to visit East Palestine after toxic train derailment
next post
Spiritual guru Marianne Williamson considers Biden challenge, says DNC is ‘spitting in the face of democracy’

You may also like

Biden slams Russia’s detention of Wall Street Journal...

April 12, 2023

Incoming GOP senator rallies behind Gaetz, Trump’s Cabinet...

November 19, 2024

TGP’s Joe Hoft on the Mel K Show...

December 5, 2022

Andy Biggs, who opposed House Speaker Kevin McCarthy,...

January 8, 2023

House committee subpoenas Fulton County DA Fani Willis

February 3, 2024

FBI Director Wray is out. Don’t tear down...

December 11, 2024

Democrats have pathways to replace Biden in 2024,...

September 15, 2023

Hate Hoax: Probe Finds Black Airman Fabricated Racist...

October 19, 2022

Sam Altman’s OpenAI backing initiative headed by several...

January 18, 2025

Here’s what happened during Trump’s 12th week in...

April 12, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Mitchell Geisler on Listening, Leadership and Business Growth

      August 23, 2025
    • 10 key takeaways from DOJ’s release of Ghislaine Maxwell’s Epstein interviews

      August 23, 2025
    • Jackson’s scathing dissent levels partisan charge at colleagues after high-profile ruling

      August 23, 2025
    • Starmer accused of betraying farmers as British food pledge stalls

      August 22, 2025
    • Fed rate cut looms after Powell’s Jackson Hole speech

      August 22, 2025
    • Tariff “Inclusion” Process Comes with High Costs, Absurd Outcomes, and Extra Cronyism

      August 22, 2025

    Categories

    • Business (8,858)
    • Investing (2,235)
    • Politics (16,465)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved