Category Archives: Business

Wallet Watching D.C. – Not Having It

Oklahomans have been hurt by many financial uncertainties throughout the last four years. Rampant inflation has drained families’ savings accounts and forced folks across the state to make tough decisions about how to pay for rent, afford groceries, or save for retirement. President Trump has taken steps to alleviate these pains, and Congressional Republicans are working hard to pass the president’s One Big Beautiful Bill.

Though this bill includes plenty of President Trump’s campaign promises, there is more that Republicans can do to put money back in the wallets of Oklahomans today to fix a broken tax code that favors certain savings accounts over others, and would end the era of surprise mutual fund tax bills.

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BBB Will Supercharge Our Economy

Today’s inflation report brought more welcome news that prices are down and wages are up — and that progress will be supercharged with President Donald J. Trump’s One Big Beautiful Bill.

Secretary of the Treasury Scott Bessent told Congress how the One Big Beautiful Bill — the largest tax cut in history — will boost that progress for middle-class Americans and the private sector without fueling inflation:

  • “The One Big Beautiful Bill will raise take-home pay between $7,800 and $13,300 for the average family of four. It will increase wages between $6,100 to $11,600 for the average worker.” (Watch)
     
  • “Not only does the One Big Beautiful Bill add $500 to the Child Tax Credit, it makes it permanent.” (Watch)
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End Double Duty Drawback Tax Loophole

Analysis: Oklahoma’s vast plains are home to a proud farming tradition that goes back to before the state officially joined the union, and that includes the production of tobacco. Tobacco growers and manufacturers like Xcaliber that are based in the state provide critical jobs and help strengthen our economy.

That’s why Congress needs to immediately end the double duty drawback tax loophole that’s benefiting our overseas competitors in the tobacco industry. 

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Food Safety Inspection Funds Increase

U.S. Secretary of Agriculture Brooke L. Rollins announced in a release today she will exercise the U.S. Department of Agriculture’s (USDA) authority to provide a much-needed funding increase of $14.5 million in reimbursements to states for meat and poultry inspection programs. Without this funding, States may not have the resources to continue their own inspection programs which ensure products are safe. This funding increase ensures American produced meat and poultry can make it to market and onto the tables of families across the country.

“President Trump is committed to ensuring Americans have access to a safe, affordable food supply. Today I exercised my authority to robustly fund state meat and poultry inspection programs to ensure states can continue to partner with USDA to deliver effective and efficient food safety inspection,” said Secretary Rollins.

“While the Biden Administration let this funding decline in recent years, the Trump Administration recognizes the importance of our federal-state partnerships and will ensure services that our meat and poultry processors and producers rely on will continue to operate on a normal basis. The President’s commitment is reflected in his 2026 budget proposal, which calls on Congress to address this funding shortfall moving forward.”

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Tulsa 4.5% increase in retail

A recent analysis from Printastic spotlights the U.S. cities and states where physical retail is growing (and shrinking) fastest, and which locations could face new headwinds just as in-person shopping was beginning to recover. Tulsa’s growth in retail since 2020 is above the U.S. average.

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