Oklahoma Speaker of the House Jeff Hickman (R-Fairview) agrees that the tax credit created several years ago to help the then-struggling CNG industry get off the ground in Oklahoma should be cut because of the state’s budget crisis.
“I don’t think it will have a major impact,” said Rep. Hickman, in an interview with OK Energy Today. “Obviously we are in a situation where we have a dramatic challenge on the state budget.”
A bill to cut the CNG tax credit by 25% was one of several cost-cutting measures that came out of committee just three weeks before the end of the legislative session.
Hickman said the CNG industry in Oklahoma already has felt economic challenges because of low gasoline prices.
“It’s one of those areas where we’re taking a look,” he explained, adding that the tax credit appears to have been successful in helping increase the number of CNG vehicles on the road as well as expansion of CNG refueling stations around the state.
“That’s happened,” he said.
Listen to Michael Dean’s interview of Rep. Hickman.