Oklahoma's economic boom may slow in 2015 due to state tax breaks, special project spending

OKLAHOMA CITY (AP) - Budget cuts may stall Oklahoma's economic boom in the coming year.

The state's oil and natural gas industry is growing and the unemployment rate is falling, but increased spending on special projects and more tax breaks means that Oklahoma has about $188 million less to spend on education, child welfare and prisons.

GOP leaders are encouraging more tax cuts, but some lawmakers believe these cuts may hurt the state's budget next year. 

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