Much of what impacts a state’s economy takes place at the national and international level. That’s according to State Senator and incoming Senate Appropriations Chair, Roger Thompson, who met with legislative peers from across the nation to discuss how some of those forces could impact Oklahoma and other states in both the near future and long-term.
The meeting was held by the National Conference of State Legislatures (NCSL), a nonpartisan organization providing information, support and other resources to legislators and staff from across the country. The annual meeting took place this past week in Los Angeles, California. Thompson serves on NCSL’s Budget and Revenue Committee and a working group examining the federal budget and how it affects state budgets.
“One very interesting and important session I participated in was about SALT, which is short for state and local taxes,” said Thompson, R-Okemah. “When looking at changes to the federal tax code, each state must be prepared for how those changes are going to affect state and local taxes. That’s certainly the case with federal ‘Tax Cuts and Jobs Act’ that President Trump signed into law in late December.”
Thompson said it was also informative to share insights on how the federal budget directly impacts state services.
“Most of our state appropriated agencies also receive resources from the federal government. When there are changes to federal funding levels, it will have a direct impact on the people who rely on those services,” Thompson said. “I’m sure some citizens may not realize how much of an impact that has on programs at the state and local level.”
Lawmakers from across the country continued to discuss the continuing implications of U.S. Supreme Court decisions allowing sports betting and expanded collection of sales taxes for online purchases.
“I am very grateful for the opportunity to meet with my peers and participate in presentations on these issues and others that will have long-term ramifications,” Thompson said. “Having access to this expertise will help me and my fellow members of the Legislature as we work together to continue to grow jobs and improve our state’s economy.”
For more information, contact Sen. Roger Thompson at 405-521-5588, or email email@example.com.