The Norman Transcript

Government

January 4, 2013

State treasurer releases year-end economic report

NORMAN — The pace of Oklahoma’s economy recovery slowed during 2012, State Treasurer Ken Miller said Thursday as he released the state’s monthly gross receipts to the treasury report.

“December receipts were 1.5 percent better than the prior year, and total year collections surpassed the previous year by 3.8 percent,” Miller said. “That compares to growth last December of 11.1 percent and a 2011 growth rate of 9.6 percent.”

Miller said sales tax collections indicate a healthy Christmas shopping season in Oklahoma. December sales tax collections, reflecting sales between mid-November and mid-December, were $20.45 million, or 5.9 percent higher than the last holiday shopping season, a similar growth rate to sales during the same period in 2011.

December was the eighth time in the past year that collections exceeded those of the same month in 2011. In four months in 2012, collections dipped slightly below prior-year collections, according to Miller’s press release.

“Twelve-month collections now stand more than $1.7 billion higher than in February of 2010. Since we hit the trough almost three years ago, almost 90 percent of the revenue lost from our peak in December 2008 has been recovered,” he said.

 

Averting the cliff: Miller said the fiscal cliff deal reached earlier this week by Congress and the president brings good news and bad.

“The good news is that 98 percent of Americans will avoid a tax increase and the Bush tax cuts were made permanent, providing needed certainty to families and small businesses,” Miller said. “Quite obviously, that’s good news for the Oklahoma economy, as it is never advisable to raise taxes during a recession or weak recovery.

“Oklahoma’s recovery has been stronger than in most other states, but we need our country to do well so we can continue our economic gains.”

Miller said the bad news involves Washington’s appetite for spending.

“This deal does nothing to address Washington’s overspending that must be corrected, lest our federal leaders spend this country into oblivion,” he said. “During the coming months, policymakers must be cognizant of the near-term weak recovery but must finally get serious and implement a long-term solution that safeguards the economic and national security interests of our country.”

Text Only | Photo Reprints
Government
  • Officials say transparency lacking in Wal-Mart zoning

    Norman city staff recently admitted to withholding information from the public regarding a controversial zoning change in southeast Norman. If approved by the city council, the proposal will allow a Wal-Mart supercenter at Cedar Lane and ...

    July 25, 2014

  • Fracking Operation Norman library to host community dialogue about fracking

    Are Oklahoma oil companies an oligarchy that is controlling state policy? Is fracking safe? These and other topics will be the subject of an upcoming Fracking Forum from 7 to 8:30 p.m. Aug. 11 in the Norman Public Library’s Lowry Room, 225 ...

    July 24, 2014 1 Photo

  • City manager calls Moore strong while addressing Chamber

    MOORE — Moore’s City Manager Steve Eddy could have quoted Dickens: “It was the best of times, it was the worst of times.” Eddy, with help from Mayor Glenn Lewis, reported on Tuesday on the State of the City to the Moore Chamber of ...

    July 23, 2014

  • walmart City leaders say ‘yes’ to Wal-Mart supercenter postponement

    Despite complaints that a postponement request was in the eleventh hour, a zoning change in east Norman was put on hold Tuesday night. The proposal to rezone property at Cedar Lane Road between 24th Avenue Southeast and Highway 77 ...

    July 23, 2014 1 Photo

  • Moore City Council paves way for Sam’s Club location

    MOORE — The Moore City Council approved a $5 million bond Tuesday to be repaid with sales tax and utility revenues. “A good amount of street improvements needs to be done,” Moore City Manager Steve Eddy said. “This will be paid for with ...

    July 22, 2014

  • Another brick in the Wal-Mart

    Norman could soon have five Wal-Mart stores, including three supercenters and two neighborhood markets. A proposal for the newest supercenter will come before the Norman City Council at 6:30 p.m. Tuesday via a request for a zoning change on ...

    July 20, 2014

  • Local group celebrates ruling

    A local group, Mothers of Many, expressed its elation with Friday’s 10th Circuit Court ruling striking down Oklahoma’s state ban on same-sex marriage....

    July 20, 2014

  • Leftover loss still hurting

    OKLAHOMA CITY — Cities, counties and school districts remain frozen out of a federal program that has sent millions of dollars worth of trenchers, trailers, semis, bulldozers, boats and forklifts and other equipment over the years....

    July 19, 2014

  • City and state briefs

    Transportation needs listed The White House released a new report this week from the Council of Economic Advisers and National Economic Council on the long-term economic benefits of transportation investment and why conditions in the ...

    July 17, 2014

  • Griffin Park 6 Proposal requests improving, expanding youth sports facilities

    Improving and expanding Norman’s youth sports facilities will generate revenue in tourism dollars, say advocates of Norman Forward, a grassroots initiative launched last week. The package proposed by Norman business leaders and community ...

    July 16, 2014 1 Photo