Budget

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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February 21, 2020 by Ted Boettner
Tax Cuts for Coal and Natural Gas Industries Are on the Move

On top of Senate Bill 655 that would reduce local property tax revenues from natural gas extraction, there are also several bills moving in the House that would give sizable tax reductions to natural gas and coal corporations. House BIll 4439 would expand a 35% tax credit on the coal severance tax that was passed…

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February 19, 2020 by Sean O'Leary
Senate Tax Plan a Bad Deal for West Virginia

Senate Republicans unveiled their latest proposal to eliminate the business personal property tax this week, passing the proposal out of the Senate Finance Committee. The plan, which builds upon an earlier proposal to eliminate the property tax on manufacturing equipment, machinery, and inventory, would blow a nearly $100 million hole in the state budget, introduce…

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