the future, calling for enhanced investment in education and training programs. Mark Snead echoed these points, highlighting the importance of increasing overall educational attainment and labor force participation. He points out the direct correlation between higher education levels and higher incomes, indicating these factors as fundamental drivers of economic growth. STATE TAX REVENUE OUTLOOK AND FISCAL CHALLENGES Dr. Russell Evans of Oklahoma City University discussed the state’s tax revenue situation noting that while wage growth has helped increase income tax revenues, sales tax collections are suffering due to consumer distress. Despite these challenges, Evans reassured the audience that the state’s reserve funds remain robust, offering some cushion in the short term. However, he acknowledged the delicate balancing act between maintaining lower taxes and investing in critical public services, a challenge that requires careful consideration by both state and city leaders. VISION FOR OKLAHOMA’S FISCAL FUTURE The panel concluded with a final discussion on what changes could improve Oklahoma’s fiscal health. Bob
Dauffenbach humorously suggested waving a magic wand to transform politicians into statesmen, while Dr. Russell Evans called for a shift away from GDP as the primary measure of economic success. Mark Snead offered a bold proposal: he suggested redirecting a portion of the state’s excess funds into higher education, specifically by expanding engineering and computer science programs at Oklahoma universities. This, he argued, would help address the state’s workforce challenges by producing more high-skilled workers in critical fields. The discussion provided valuable insights into the economic, educational and fiscal challenges facing Oklahoma, highlighting the need for continued collaboration and strategic investment in the state’s future. The Greater Oklahoma City Chamber hosted its annual State of the Economy event, which focused on economic- driven conversations surrounding the incoming leadership of President-elect Donald Trump.
Greater Oklahoma City Chamber Chair Theresa Rose discusses economic outlook, workforce development and fiscal policies with a panel of distinguished economists and business leaders in Oklahoma City.
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