Oklahoma treasurer: Overall revenue collections improving

Posted at 3:37 PM, Jul 10, 2017
and last updated 2017-07-10 16:37:43-04

 OKLAHOMA CITY (AP) -- Oklahoma's state treasurer says overall collections to the state treasury are improving and the state has emerged from a one-year recession.

Treasurer Ken Miller released figures on Monday that show overall receipts in June exceeded those of the same month last year by $87 million, or 9.4 percent. He noted the state's four major revenue streams of taxes on income, oil and gas production, sales and motor vehicles last month were higher than those of June 2016.

A Republican who is also an economist, Miller says leading indicators point to continued growth in the state's economy, but he cautioned the strength of that recovery could be moderated by the recent decline in oil prices.

Benchmark U.S. crude was trading Monday at about $44 a barrel in New York.

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