Last week the West Virginia Legislature introduced a bill to cut and eventually eliminate the state's personal income tax. This week, the House Finance Committee voted to advance that bill to the House floor with no discussion or questions asked. Like previous attempts to eliminate the state's income tax, HB 4007 would lead to major…
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Since the state legislative session began last month, much attention has been focused on the high number of job openings in West Virginia. Two bills that are rapidly moving through the Senate (SB 2 and SB 3) would drastically cut unemployment insurance benefits for displaced workers in the name of “getting people back to work,”…
Earlier this month, Governor Justice released his FY 2023 budget proposal. Once again, the governor is proposing a relatively "flat" budget with few changes from the previous year. However, like with the FY 2022 budget, low revenue estimates and a lack of a six-year plan are complicating the budget picture, preventing investments in the state's…
In December, West Virginia state lawmakers in the Joint Committee on Finance discussed the "cliff effect," a phenomenon wherein a small increase in household income makes an individual or family ineligible for public programs like Medicaid and food assistance. The result can often mean less economic security for the individual or family, as the cost…
On the first day of the 2022 legislative session, the West Virginia Senate introduced bills that would make major changes to the state's unemployment insurance system, to the detriment of the state's workers. While Senate Bill 3 would add additional strict work search requirements for unemployed workers collecting unemployment insurance, Senate Bill 2 would reduce…
West Virginia's economy continues to be impacted by the COVID-19 pandemic, nearly two years after impacts were first felt in the state. After historic job losses in the spring of 2020, the state underwent a steep, but partial recovery in the summer. However, growth has been sluggish in recent months, and a substantial jobs gap…
West Virginia levies a severance tax on the production value of coal, natural gas, oil, and other natural resources produced in the state. During the most recent legislative interim session, the Joint Committee on Finance proposed legislation to -- yet again -- cut the state's already low severance tax. This comes on the heels of…
Under the American Rescue Plan Act (ARPA), Congress temporarily increased the Child Tax Credit (CTC) for more than 65 million children nationally, including 346,000 in West Virginia where it reaches 93 percent of children. Since July, most households with children have received $250- $300 per child monthly via the increased CTC, but the final payment…
Last week, the Bureau of Labor Statistics reported that the overall year-over-year inflation rate in October was 6.2 percent, a notably high rate. While there are many reasons to believe that inflation will ease in the coming months, some, including West Virginia Senator Joe Manchin, are arguing that current high rates of inflation are not…
The open enrollment period to sign up for health insurance under the Affordable Care Act (ACA) started on November 1 and continues through January 15. This period allows individuals without existing health coverage to enroll in a private insurance plan or Medicaid – all in one place. As the nation continues to contend with the COVID-19 pandemic,…