Collin Tyler

Gov. Mary Fallin has pushed for a tax cut since she took office in 2010. Today, she signed into law a bill to cut Oklahoma's top income tax rate to 5 percent in 2015.

The bill reduces the state's top income rate that most Oklahomans pay from 5.25 percent to 5 percent beginning Jan. 1, 2015, with a second cut to 4.85 percent set for 2016 if state revenues continue to rise. The second tax cut is contingent on total revenue growth for Fiscal Year 2016 being equal to or greater than the fiscal impact of a .15 percent tax cut.

TIME Magazine released its annual TIME 100 list Thursday. Two U.S. Congressmen made the list: one, Kentucky Senator Rand Paul. The other, Oklahoma Senator Tom Coburn.  

Each member of the list is afforded a few paragraphs, written by a colleague or friend, describing why that person deserves their appointment to the TIME 100. Coburn's summary was written by none other than the President of the United States, Barack Obama. 

OKLAHOMA CITY - The Oklahoma City Community Foundation today released a report addressing Oklahoma City Disaster Relief Fund. The forensic investigation report was conducted by BKD Accounting Firm in response to questions and allegations about the administration of the fund, which was established following the Murrah Federal Building bombing in 1995.

OKLAHOMA CITY (AP) - Republican Sen. Tom Coburn says the U.S. Department of Transportation should consider areas other than control towers to meet federal budget cuts.

About 200 contract control towers staffed by non-federal employees would be closed under the cuts.

Coburn said Thursday that the FAA faces a loss of about $600 million due to the cuts.