Gov. Stitt lauds Oklahoma revenue growth, low unemployment
Gov. Kevin Stitt is touting significant revenue growth and low unemployment in Oklahoma.
OKLAHOMA CITY (OBV) – Gov. Kevin Stitt is touting significant revenue growth and low unemployment in Oklahoma.
Stitt cited new state data that shows Oklahoma’s 12-month tax revenue totaling $16.92 billion, a $38.6 million increase over last year’s total tax revenue at this time of year.
“This is what happens when you keep your fiscal house in order,” Stitt said. “Because we’ve cut taxes, reined in wasteful spending, and resisted the urge to grow government, Oklahoma is thriving.”
The state’s Constitutional Reserve Fund is now at full capacity, so $23.3 million of that revenue has been deposited into the Revenue Stabilization Fund, which Stitt says strengths Oklahoma’s long-term financial position.
S&P Global Ratings elevated Oklahoma’s credit rating from “AA” to “AA+,” marking Oklahoma’s highest rating in decades.
Oklahoma is also seeing employment gains.
The state’s unemployment rate is 3.1 percent, below the national 4.2 percent unemployment rate.
“What we’re seeing is proof that Oklahoma’s economy is booming and that conservative principles work. We’ve built an Oklahoma where businesses want to invest, families want to grow, and job creators can chase the American dream,” Stitt said.
