House Democrats want to make our tax system fairer and ease the burden on you and your family by lowering your taxes; rather than continuing to let big corporations and the wealthy exploit an unfair and broken tax system.
Level the playing field
- Pass a fair severance tax like every other natural gas state has (H.B. 1401).
- Reduce property taxes for homeowners by requiring corporations that are now getting a free ride to pay property taxes. This bill being drafted would allow leases or other agreements that are subject to the Oil and Gas Lease Act to be applicable to local real estate taxes and give municipalities the ability to bring down property tax rates for everyone.
- End big-business tax credits that don't help working people and small businesses.
- Everyone should pay their fair share; eliminate tax loopholes and tax avoidance for big corporations.
Prioritize working people and families
- Base people's taxes on what they can afford to pay.
- House Bill 1961 would create a more equitable income tax payment system, while raising $2 billion in new tax revenue.
- Legislation is being introduced for a constitutional amendment to allow for a graduated income tax where higher wage earners pay an amount more comensurate to their income.
- Another bill being drafted would increase the poverty exemption for state income taxes from $12,000 to $50,000 for individuals, and to $100,000 for those filing jointly with a spouse.
- Reduce income inequality by treating all types of income equally for tax purposes.
- A bill is being drafted to increase the tax rates on money earned from other money, rather than earned income. This would include net profits, net gains, dividends, interest and income from estates and trusts.