2nd Revenue Failure Likely, Oklahoma Speaker Says
OKLAHOMA CITY (AP) — Oklahoma House Speaker Jeff Hickman says a second revenue failure is likely this fiscal year in Oklahoma, which would prompt deeper cuts to state agency budgets before June.
Hickman is speaking Thursday at the annual Legislative Forum hosted by The Associated Press. The Republican from Fairview says the Legislature may consider revising the current fiscal year allocations to agencies when it convenes next week, rather than waiting for a second revenue failure to be declared.
Hickman says doing so would give the Legislature more flexibility to target specific agencies for cuts, as opposed to mandatory across-the-board reductions.
Oklahoma faces a budget hole of about $1 billion for the upcoming fiscal year.