Oklahoma’s budget increased cumulatively less than pop+inf in state funds and all funds from 2014-23, meaning taxes are lower in state funds and all funds than the average taxpayer can afford. 

  • The 2023 state funds budget is $3.0 billion lower than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew slower than population growth plus inflation for the last ten years, the state spent and taxed $10.4 billion less than possible.
  • The 2023 all funds budget is $2.4 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew slower than population growth plus inflation over the past decade, the state spent and taxed $461 million less than possible.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $15.58
  • FY 2025 Only State Funds Budget Limit ($ Billions): $16.53
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 6.10%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: ($736)
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: ($2,944)
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: ($2,577)
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: ($10,307)

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $30.66
  • FY 2025 All Funds Budget Limit ($ Billions): $32.53
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 6.10%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $588
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $2,351
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $(114)
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $(455)

Other Considerations