I'll Bet the Republicans Will Call This a Tax Cut

The Oklahoma State Board of Equalization has determined that state revenue collections have grown by more than 4%. Pursuant to 68 O.S. § 2355.1A, the state income tax rate is to drop from 5.5% to 5.25% for 2012.

I have a feeling that the Republicans are going to start touting this as an example of them cutting taxes this session some time between now and November 2012. In fact, I guarantee that they will, even though this is an automatic trigger from a bill they passed in 2007.