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OK-Meacham not letting tobacco tax, rebate woes interfere with election bid
03/30/2006 by Summer L. Holleyman
(LIN) All he ever wanted was to practice law in his father's Clinton, Oklahoma firm, yet somehow he ended up managing more than $4 billion in state revenue.
"The only other public office I've ever run for was the editor of the University of Oklahoma Law Review when I beat out Brad Henry by one vote," said State Treasurer Scott Meacham, who officially announced his candidacy for the office Thursday at the State Capitol.
Meacham has been serving as the state's banker for the past 10 months, after Gov. Brad Henry appointed him to complete the term of former state treasurer Robert Butkin, who resigned from the position last year to become Dean of the Tulsa University law school.
According to Meacham, his experience as a certified financial planner uniquely qualifies him as an expert money manager for the state. He pointed to the $23 million in investment returns that he claims are a result of his efforts to modernize the treasurer's investment portfolio.
Meacham said that, if elected, he will continue to look for more ways to improve the efficiency of the state treasurer's office, including implementing a document imaging system designed to more efficiently store the volumes of information kept by the office.
Additionally, Meacham said he plans to introduce an initiative designed to encourage Oklahomans to achieve financial security through savings. Current law exempts $100 in interest from state taxes for single individuals and $200 for families. Meacham's plan would increase that amount to $1,000 for a single person and $2,000 for families. "The Save Oklahoma initiative will help Oklahomans save money and improve their personal financial integrity," said Meacham.
He also discussed the role of the state treasurer's office in the tax rebate initiative of last year, which has caused confusion to many taxpayers this filing season due to an IRS ruling that required Oklahomans to list the rebate as "other income," thus requiring citizens to use the longer 1040 form as opposed to a 1040EZ.
"Our job was to administer the rebate. I think we did a good job with that - it's something that has never been done before in Oklahoma," Meacham said. "The Legislature asked us to do it and I think my staff did a great and efficient job handling the work."
Meacham also addressed the problems that have arisen as a result of the implementation of the state tobacco tax, which his opponent Howard Barnett claims is a result of Meacham's ineptitude.
"The state treasurer had nothing to do with compacting - that is the sole province of the governor," said Meacham, who said he wishes to keep his campaign positive. "It is very disappointing to me what campaigns have become in this country today. I don't want any mudslinging in my campaign. I'll respond when people make statements about me that are misleading or inaccurate."
Two other candidates have announced their intention to run for Meacham's office - Howard Barnett and Daniel Keating, brother to former Gov. Frank Keating.
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