Legislative Update

I just hosted an interim study for Oklahoma Employment Security Commission officials to discuss updating the unemployment insurance taxes paid by businesses. These tax rates, which haven’t been updated in more than 30 years, are skewed in a way that puts small businesses at a significant disadvantage. An unemployment claim filed against a small business, especially one with five or fewer employees, could cause significant financial hardship or outright financial ruin for that employer. In Oklahoma, small businesses make up 80% of all businesses, and about two-thirds of all Oklahoma businesses have fewer than five employees.

OESC officials proposed lowering the tax rates to make Oklahoma more competitive within our region. They also suggested legislative reforms to protect the state’s Unemployment Insurance Trust Fund. I appreciate OESC leaders being proactive and bringing this important issue to my attention so we can work on policy solutions that make unemployment taxes fair for all businesses.

In August, I spoke on a legislative panel at the Select Oklahoma Conference on Economic Development in Oklahoma City. This conference centered on strategies to attract more businesses to Oklahoma and help existing companies expand. I joined several of my legislative colleagues in discussing what policies the Oklahoma Legislature has passed to spur economic growth and what we hope to achieve during next year’s legislative session.

Workforce development is one of the major challenges facing the state. Recruiting new employers to Oklahoma can be difficult if we don’t have enough trained workers to fill job openings. That’s just one of the issues Lt. Gov. Matt Pinnell is working on through his Workforce Tour, which is aimed at listening to local employers discuss their workforce needs. I recently participated in his Workforce Tour stop in Ponca City. The event was well attended, and we had an enlightening conversation about how to help businesses find and retain qualified employees. I also welcomed Insurance Commissioner Glen Mulready to Ponca City so he could meet some of my constituents and educate them about his office. Then I stepped into his shoes for a day to talk to members of the Oklahoma Roofing Contractors Association about insurance and workforce issues.

State Chamber of Oklahoma officials came to Ponca City in mid-September to present me with a Business All-Star Award. I was flattered by the recognition that stems from my perfect score on the State Chamber Research Foundation’s RIED report, a legislative scorecard on economic growth and business development. Chamber representatives presented the award at an event at the Phillips 66 refinery. As a businessman myself, I’ve always found it easy to cast pro-business votes at the Capitol.