I am very concerned about the following excerpt from a forum in today’s Daily Ardmoreite: SENATE Continued from Page [ 1A ]
Question 1. Gross Production Tax is a critical issue in Southern Oklahoma. With increased revenue passed last session and better than anticipated returns, many suggest additional increases to GPT will help address state funding. What are your thoughts on this?
Simpson: “I’m very cautious about raising gross production taxes any higher,” Simpson said, adding that while some advocate for a rate of as much as seven percent, he feels the current rate of five percent is a fair, even place to allow companies to profit and citizens to benefit from production in the state. He said he believes raising GPT any higher would punish productivity.
Arledge: Arledge said that while he thinks the current GPT rate of five percent was an appropriate amount for the first 36 months, he is comfortable with allowing the GPT to increase to seven percent. He pointed out that while Carter County has historically relied on oil and gas production revenues, it is a non-renewable resource and the area should work toward diversifying the economy.