While the Oklahoma legislature has voted to strip the wind industry of tax credits it bestowed on wind farms several years ago, the State House has okayed continuation of a $5,000 tax credit for aerospace engineers.
House Bill 1839 by Rep. Leslie Osborn (R-OKC) would cost the tax $7 million but she argued during House debate this week the credit is getting a return of $15 million for the state.
Tulsa Rep. Eric Proctor argued against it, saying the state is already in a nearly $900 million budget hole and extending the aerospace engineering credit makes no sense.
“Later this year we’re gonna be asked to possibly raise taxes on you name it, and you know why we have to do that? Because of these credits. We have a $900 million hole,” he argued during Tuesday floor debate.
Rep. Osborn countered.
“We have no tax credit more successful in this state. No tax credit that’s done more to diversify our economy in this state than the aerospace tax credit,” claimed Osborn.
Her bill was passed on a vote of 84-11 and sent to the Senate.
Listen to some of the debate.
