Unstable revenue streams can wreak havoc on a state’s economic position and potential for growth. This is the concern for many legislators in Oklahoma, a state heavily reliant on taxes related to the energy sector. As a result, legislators are considering more predictable revenue streams.
Oklahoma State Representative Mark McCullough, who recently announced that he will not seek re-election in 2016, has committed to spending a good deal of his last 12 months in office focused on stabilizing the Sooner State’s budget. He put it bluntly: “We are really in the hole this year, and I imagine most of my time will be spent on that.”