Issues: Tort and Tax Reform
OKAA opposes legislative proposals to repeal the percentage depletion allowance on hard rock minerals or other minerals. Repealing percentage depletion for aggregates would increase the cost of constructing public works and infrastructure by raising mining costs that would be passed on in higher prices to the end users of aggregates.
Reform of the death tax
OKAA believes tax relief is crucial to economic recovery, growth and prosperity and supports making permanent a reduction in the estate tax. The estate or “death” tax falls most heavily on small, family-owned businesses and their employees. Permanent reduction, if not outright elimination, of the estate tax is a critical element of tax relief for the aggregates industry. The death tax kills job creation and economic growth and saps the entrepreneurial spirit.
OKAA supports enactment of meaningful tort reform measures that will help the civil justice system more equitably balance the interest of plaintiffs and defendants and send clear signals about what type of conduct will subject defendants to liability.