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Governor Stitt Signs FY25 Budget

Wednesday, June 12, 2024

Today, Governor Kevin Stitt signed the budget for the state’s 2025 fiscal year into law. After giving effect to elimination of the grocery tax, the largest single tax cut to delivered to taxpayers in state history, this budget authorized state expenditures at a reduced level relative to last year while delivering on strategic investments in infrastructure and efforts to further the Governor’s pro-business, pro-family policies.

"This was the most transparent budget process in state history, and that is something to be proud of," said Governor Stitt. "Every Oklahoman had the opportunity to have a front row seat to the negotiations that took place and to see how their tax dollars were spent. The state has taken a step forward today, but our work is unfinished. I will continue to fight for more tax cuts and keeping a lid on the growth in government in Oklahoma."

The Governor laid out several budget-related objectives leading up to and during this most recently concluded legislative session related to the budget:

  • Deliver on tax relief for all Oklahomans;
  • Enhanced budget transparency;
  • Ensure that recurring expenditures were in line with recurring revenues; and
  • Make targeted, strategic one-time investments while preserving Oklahoma’s savings levels near $5 billion.

Through partnership, cooperation, and negotiation among the Governor, the Speaker and the Pro Tem, each of these objectives were met yielding a successful result for Oklahoma.

Governor Stitt added, "As Speaker McCall and Pro Tem Treat wrap up their final year in office, I want to commend them on their efforts to leave a legacy of transparency. I look forward to working with their successors and expanding on those relationships and the progress made this year."

The FY 2025 budget authorized $12.47 billion in state spending.

SB 1125 can be found here.

The House Budget Transparency Portal can be found here. The Senate FY25 Budget Highlights can be found here.

Last Modified on Jun 13, 2024
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