At the 2024 American Farmers and Ranchers Convention in Oklahoma City, Farm Director KC Sheperd had the chance to visit with State Treasurer Todd Russ about Oklahoma’s January 2024 Investment Report, some initiatives he has been working on while in office, and more.
Regarding the latest investment report, Russ said Oklahoma is looking good and can only get better.
“Oklahoma is in as good of shape as it has ever been in history, and everything is pointing north, and it looks like it is going to continue to be that way for quite a while,” Russ said.
Russ discussed many financial accomplishments he has achieved so far for the state while in office that have resulted in more revenue. When it comes to bringing money into the state, Russ talked about how events like Cattlemen’s Congress play a vital role.
“All the things that we stand for have become quite attractive for much of the nation,” Russ said. “I used to say it was one of the best-kept secrets, and now I say it has gotten out because people are moving into Oklahoma. A lot of attention, a lot of amazing, great things…”
One issue Russ has been tackling while in office is Environmental, Social, and Governance, or ESG. Russ said international banks have begun to put restrictions on entities that do not follow ESG criteria.
“Agriculture and oil and gas are the two main targets that they have,” Russ said. “They are really zeroing in, trying to choke that off. That is one of the biggest things we need to be watching for. The tools we have are highly limited because these are multi-trillion-dollar organizations that you have to have enough size to really get their attention.”
Russ said to face these ESG issues, State Treasurers in energy and agriculture states must come together.
Turning the page to the grocery tax elimination, Russ said he is looking forward to this change.
“Every time we cut a tax, the economy responds with more robust productivity,” Russ said. “Actually, our revenues go up, which is absolutely phenomenal. I have heard lots and lots of people who are just excited about the relief on their grocery bill.”
