MuskogeePhoenix.com, Muskogee, OK

Oklahoma News

December 4, 2012

State treasurer says fiscal cliff may harm economy

— OKLAHOMA CITY  — Oklahoma's treasurer says the fiscal cliff's combination of tax hikes and reduced government spending could harm the state's economy.

Congressional negotiators are working with President Barack Obama to avoid steep tax hikes and spending cuts set to go into effect at the beginning of 2013. And Treasurer Ken Miller said Tuesday failure to avoid the fiscal cliff would mean a tax increase for Oklahomans and likely spending cuts at military bases and other government facilities in the state.

Miller says leaders in Washington need to start working together to avoid damage to the state's fragile economy.

Meanwhile, Miller says state revenue collections dipped slightly in November primarily because of reduced gross production payments on oil and natural gas. But he says consumer confidence remains high and sales tax receipts rose.

1
Text Only
Oklahoma News
AP Video
Crew Criticized Over Handling of Ferry Disaster Agreement Reached to Calm Ukraine Tensions Raw: Pope Francis Performs Pre-easter Ritual Raw: Bulgarian Monastery Dyes 5000 Easter Eggs Diplomats Reach Deal to Ease Tensions in Ukraine U.S. Sending Nonlethal Aid to Ukraine Military Holder: Americans Stand With KC Mourners Obama Greets Wounded Warriors Malaysia Plane: Ocean Floor Images 'Very Clear' Sparks Fly With Derulo and Jordin on New Album Franco Leads Star-studded Broadway Cast Raw: Two Lucky Kids Get Ride in Popemobile Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing
Poll

Should a federal judge have the power to strike down Oklahoma's ban on gay marriage?

Yes
No
     View Results
Featured Ads
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Stocks