Statement of Principles
The Alliance for Oklahoma's Future is committed to tax and budget policies that will promote the state's economic development and provide for the well-being of our citizens and communities. We believe that sound tax and budget policies should adhere to the following basic principles:
Adequate Funding
Many key programs and services in Oklahoma are seriously underfunded, which hinders economic development and adversely affects the quality of life in the state. Policies should ensure funding levels of agencies, programs, and services that are adequate to promote and protect the public well-being. Arbitrary constitutional spending limits that impede the state's ability to provide adequate funding, such as the so-called "Taxpayer's Bill of Rights" (TABOR), should be rejected.
Fiscal Responsibility
Based on current trends and policies, Oklahoma will confront growing difficulty in balancing budgetary needs with available revenues. Policies should ensure that revenues are adequate to meet funding commitments on a sustained and ongoing basis. Tax and spending proposals should be weighed in light of their long-term fiscal impact. We should improve our capacity to anticipate and respond to economic and budgetary fluctuations.
Tax Equity
Under the current tax system, low- and middle-income households pay a substantially larger share of their income in state and local taxes than do wealthier households. The tax system should ensure that all Oklahoma's families and businesses pay their fair share. Tax breaks should be broad-based and effective, and provide benefit to those in economic need.
Transparency and Accountability
The general public and even policymakers tend to have limited information on the state's budget and tax system and the projected impact of policy proposals. We should improve our ability to forecast revenues and expenditures under existing and proposed policies. More extensive information is needed on the distribution of benefits from existing and proposed tax breaks.
