Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Oklahoma Gov. Stitt, panel see $2B budget increase over last year By: FOXNews.com February 17, 2023 at 18:15 PM EST Oklahoma lawmakers will have an additional $2 billion to spend over what was reported last year, according to a panel led by Republican Gov. Kevin Stitt. 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.OK GOV. KEVIN STITT'S TOP PRIORITY EXPECTED TO BE TAX CUTS IN STATE OF THE STATE ADDRESSThe 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.WISCONSIN GOVERNOR EVERS TO RELEASE 2023-25 EXECUTIVE BUDGETThompson 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." Related Stocks: Fancamp Exploration Ltd Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Oklahoma Gov. Stitt, panel see $2B budget increase over last year By: FOXNews.com February 17, 2023 at 18:15 PM EST Oklahoma lawmakers will have an additional $2 billion to spend over what was reported last year, according to a panel led by Republican Gov. Kevin Stitt. 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.OK GOV. KEVIN STITT'S TOP PRIORITY EXPECTED TO BE TAX CUTS IN STATE OF THE STATE ADDRESSThe 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.WISCONSIN GOVERNOR EVERS TO RELEASE 2023-25 EXECUTIVE BUDGETThompson 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." Related Stocks: Fancamp Exploration Ltd