Governor Kevin Stitt is highlighting new data pointing to continued economic growth across the state, citing increased tax revenues, a strong labor market, and a high credit rating as signs that his administration’s fiscal policies are working.
“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.”
According to the latest report, Oklahoma’s 12-month tax revenue reached $16.92 billion. That’s up $38.6 million from the previous year. With the state’s Rainy Day Fund at full capacity, another $23.3 million has been added to the Revenue Stabilization Fund, boosting Oklahoma’s financial reserves.
Earlier this year, S&P Global Ratings upgraded the state’s credit rating to “AA+,” its highest rating in decades.
Oklahoma’s unemployment rate now stands at just 3.1%, well below the national rate of 4.2%, and the state continues to see steady job growth.
“What we’re seeing is proof that Oklahoma’s economy is booming and that conservative principles work,” said Stitt. “We’ve built an Oklahoma where businesses want to invest, families want to grow, and job creators can chase the American Dream.”
Source: McCarville Report
