Sen. Boren holds study on fair energy tax policy to support workforce development

OKLAHOMA CITY – Highlighting Oklahoma’s identity as an “all of the above” energy state, Sen. Mary Boren, D-Norman, led an interim study before the Senate Revenue and Taxation Committee to evaluate the state’s energy tax policies and how they impact economic growth and job creation.

Boren extended her thanks to Senate Revenue and Taxation Chair Sen. Dave Rader, R-Tulsa, for hearing the study and supporting a bipartisan approach to reviewing tax policy. The study focused on whether current tax structures equitably support Oklahoma’s full energy portfolio that includes oil, gas, wind, solar, hydrogen and nuclear, and compared the state’s tax approach with other states.

“Oklahoma relies heavily on energy revenues to fund core services, and as our energy landscape evolves, our tax policies must evolve with it,” Boren said. “This study was about making sure we’re not picking winners and losers but instead creating a fair and balanced tax environment that supports long-term workforce development and economic opportunity across all energy sectors.”

Presenters from the Oklahoma Tax Commission outlined the state’s current energy revenue streams. Sam Moore of Ducharme, McMillen & Associates, Inc. provided a comparative analysis of how other states tax energy, offering insights into national best practices. Jeff Ackermann, from Colorado State University’s Center for the New Energy Economy, shared perspectives on Oklahoma’s integrated energy economy and the importance of maintaining a competitive edge.

“The data showed that while our tax policies are generally on par with other states, there is room to ensure that incentives and exemptions are used wisely and advance measurable returns in job creation and economic stability,” Boren said. “Our goal should be to align tax policy with our broader economic goals, ensuring every dollar invested through tax incentives yields long-term benefits for Oklahoma workers and communities.”

She also underscored the impact of incentives that reduce state revenues for public services such as education and infrastructure.

“If we’re reducing state revenue through tax breaks or rebates, we have to be sure those policies are delivering value back to Oklahomans in the form of job security and economic resilience,” Boren said.

The full archived livestream of the September 30 interim study can be accessed at oksenate.gov by selecting “Live Proceedings” and locating the September 30, 1 p.m. session under the Senate Revenue and Taxation Committee.

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For more information, contact:  Sen. Mary Boren at 405-521-5553 or Mary.Boren@oksenate.gov