The call by striking teachers for the state to eliminate the tax deductions or exemptions from capital gains is being opposed by at least one group.
The Oklahoma Association of Realtors came out this week with a video
and statement indicating such a move would be harmful to Oklahoma’s economy.
Capital gains exemptions are common in many energy-related businesses.
The realtors explained that, “removing those exemptions will drive individuals and businesses from our state and hurt Oklahoma’s economy.”
The Association called effort by the Oklahoma Education Association “detrimental” and said the long-term investment and stability for communities are key to the state’s economic growth and prosperity.
“Elimination of the capital gains tax is not in the best interest of the hard-working Oklahomans,” said the association. “Additionally, capital gains taxes can vary dramatically year to year. It is not and will never be a stable funding source for our state.”