Dear Friend,
You did it! Thanks to your calls and emails, a bill that would repeal Oklahoma's wasteful and expensive capital gains tax break – SB 1086 – has passed out of subcommittee! Now let's keep this bill moving.
Oklahoma’s capital gains deduction allows income from the sale of Oklahoma real estate or stock in an Oklahoma-based firm to go fully untaxed. The capital gains tax break is costing Oklahoma hundreds of millions without paying off in economic growth. Furthermore, more than 85 percent of the benefit is going to individuals with income of more than $200,000.
It's time to end this wasteful loophole. The next stop for SB 1086 is the Senate Appropriations Committee. This committee is comprised of the entire Senate, so passage here will be a great sign that SB 1086 will make it through the Senate and move on to the House. Now is the best time to call your Senator and ask her or him to vote YES on SB 1086. You can look up contact information for your Senator here.
Together we can make a difference,
Sabine Brown
Together Oklahoma Coordinator
