Oklahoma governor inks tax hikes, teacher pay raise

Oklahoma Gov. Mary Fallin has signed into law the largest teacher pay raise in the state's history and a massive package of tax hikes to pay for the plan. Flanked by educators and GOP leaders, Fallin on Thursday signed a bill to give public school teachers raises of between 15 and 18 percent, an average boost of about $6,100 a year. She also signed a bill to increase taxes on cigarettes, motor fuel, lodging and oil and gas production that would raise an estimated $450 million for lawmakers to spend.