Oklahoma Governor signs bill to eliminate Grocery Tax

MIAMI, Okla.- In a significant move to make groceries more affordable, Oklahoma Governor Kevin Stitt has signed a bill that will remove the state's portion of the grocery tax, currently at 4.5 percent.

This change, set to take effect immediately, will apply to food intended for home preparation and consumption, excluding meals eaten on-site at restaurants and eateries. The decision concludes a five-year bipartisan effort aimed at reducing the financial burden on Oklahoma residents.

The tax cut has sparked a range of reactions among shoppers in Miami, Oklahoma. Ellen Roberts and Mary Cox, local residents, expressed enthusiasm about the reduction, anticipating it would make a noticeable difference in their grocery bills. "That's great. I love it," Roberts said, reflecting a sentiment shared by many in the community. Casey Walker from Welsh sees the benefit extending beyond personal savings, highlighting the positive impact it could have on his hardworking peers.

However, the tax cut also raises concerns about the potential repercussions for state revenue, which is expected to decrease by $418 million annually as a result. Residents like Debbie and Brad worry about where the lost funds will be recuperated and whether the government will seek alternative methods to generate revenue. "I like to see the money that's taken away from the grocery tax. Where is it going to be replaced? How will it be reimbursed?" Debbie questioned, echoing concerns about the broader financial implications of the tax cut.

Despite these concerns, tax elimination is seen as a boon for those on fixed incomes. Lloyd and Darlene, both Miami residents, emphasized the importance of every saved penny, particularly for older individuals and those carefully monitoring their budgets. "Every little bit counts. Especially if you're getting older and living alone," Lloyd noted, capturing the relief felt by many who will benefit from reduced grocery bills.

As Oklahoma residents adjust to the new tax landscape, the overall impact of this legislative change remains to be seen.

The tax cut doesn't go into effect until 90 days after the legislative session ends.

COPYRIGHT 2024 BY KOAM NEWS NOW. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.