Budget

June 11, 2020 by Ted Boettner
Ted Boettner: WV Needs Planning, More Federal Money to Stay Afloat

Charleston Gazette-Mail - While West Virginia has avoided major budget problems, so far, it is unlikely to continue as several billion dollars in federal aid dries up and the economic reality of the pandemic-induced recession continues to put downward pressure on state and local budgets. Link to op-ed here. Policymakers would be wise to take…

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May 12, 2020 by Sean O'Leary
West Virginia’s Budget Shortfall Could Top $3.6 Billion Through FY 2022

The pressure on the state budget from the COVID-19 pandemic and resulting economic fallout continues to mount. In April, state revenue collections were $192 million below estimates, setting the stage for what could be a total $500 million shortfall by the end of the fiscal year. Moreover, recent economic projections from the Congressional Budget Office…

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April 24, 2020 by Ted Boettner
Tap Reserves and Enact Progressive Tax Policy to Address COVID-19 Economic Crisis

Although Congress allocated $1.25 billion in state fiscal aid for West Virginia in the CARES Act that passed last month, it's highly likely this will not be enough money to shore up state and local government budgets from the economic impacts of the COVID-19 pandemic. To make matters worse, the U.S. Treasury issued guidance on…

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March 27, 2020 by Sean O'Leary
Sean O’Leary: Financial Aid to WV Crucial During Coronavirus

Charleston Gazette-Mail - A crisis like the coronavirus outbreak creates an immense amount of pressure on state and local government finances. Demand for vital public services escalates just as the revenue to support those services takes a major downturn. Read op-ed. West Virginia is already in a tight budget situation, with resources stretched thin. Before…

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March 23, 2020 by Sean O'Leary
Preparing for the Coronavirus Fiscal Fallout

Crises like the coronavirus outbreak create a double challenge for state governments. Demand for vital public services escalate just as the revenues to support those services take a major downturn. West Virginia is already in a tight budget situation, with resources stretched thin. Before the effects of the crisis were really felt, the state revenues…

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March 17, 2020 by Sean O'Leary
FY 2021 Budget Recap

Governor Justice signed the FY 2021 budget last week, after the budget was completed before the end of the session. While there was some back and forth between the House and Senate versions of the budget, the final budget saw only small changes from the Governor's proposal. As noted before, several tax bills passed the legislature…

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March 13, 2020 by Ted Boettner
Taxes and the 2020 Legislative Session: A Mixed Bag of Good and Bad

While the tax bills passed during the 2020 Legislative Session are awaiting the governor's approval, most of the largest tax cut proposals failed to make it across the finish line but will likely return next year. Specifically, the legislature failed to place on the November 2020 ballot a constitutional amendment to repeal part or all…

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March 2, 2020 by Sean O'Leary
Disinvestment in Higher Education Continues to Hurt West Virginia’s Future

As the 2020 Legislative Session heads down the home stretch, attention now turns to the state budget. While budget proposed by the governor at the beginning of the legislative session showed little change from the previous year, there will likely be some adjustments made, as a number of revenue reducing bills are currently working their…

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February 28, 2020 by Sean O'Leary
Budget Update: House of Delegates Edition

Yesterday, we took a look at the Senate's version of the FY 2021 budget. Now the House has unveiled their version, and as in the Senate, there are a number of changes made from the governor's proposal. The House has three revenue bills that will reduce the General Revenue Fund by $6.1 million in FY…

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February 27, 2020 by Sean O'Leary
State Senate Begins Budget Work

With crossover day behind us and most major pieces of legislation in place, the Senate began work on the FY 2021 budget this week, presenting their version of the budget bill in the Senate Finance Committee. The Senate has made a number of changes to the Governor's proposed budget, both on the revenue and spending…

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