The tax framework released last week by President Trump and Republican congressional leaders would result in huge tax cuts for the wealthiest households, while offering little to middle- and lower-income families. In West Virginia, the richest one percent of residents would receive 39.1 percent of the tax cuts within the state under the framework in 2018, according to…
Budget
The Bureau of Business and Economic Research at West Virginia University released their annual Economic Outlook Report for the state earlier this month. According to the report’s forecast, West Virginia is expected to experience modest job growth, with employment forecasted to grow at an average rate of 0.7 percent per year for the next five years. That’s…
The Bureau of Business and Economic Research at West Virginia University released their annual Economic Outlook Report for the state earlier this month. According to the report's forecast, West Virginia is expected to experience modest job growth, with employment forecasted to grow at an average rate of 0.7 percent per year for the next five…
On Friday, July 21, Executive Director Ted Boettner presented at the WVCBP’s 2017 Summer Policy Institute. The presentation covers what West Virginia's state budget pays for, where revenue comes from, how tax and spending decisions impact families and our economy, and the state's ongoing budget crisis. Here is his presentation.
When lawmakers passed a "bare-bones" state budget, some lawmakers expressed that the state government needs to "live within its means" because of our "shrinking population and tax base." Other lawmakers have suggested that our state budget is too big and that we will need to "continue making cuts to programs and services" and that we should…
This week, Governor Justice said he would let the state budget become law instead of signing it because the budget contained so many cuts ( a "travesty") and that his proposed tax plans failed to become law. Governor Justice mostly blamed Democrats and Republicans in the House of Delegates, along with the Senate Democrats, for…
Heidi Holliday, Executive Director of the Kansas Center for Economic Growth You're welcome, America. Our state, Kansas, just wrapped up a 5-year long experiment in governance from which the other 49 states can now glean some important lessons. The Kansas Legislature has voted to roll back much of the 2012 package of tax cuts…
Earlier this week, the West Virginia Center on Budget and Policy examined the fiscal impact of the proposed compromise tax plan between Governor Justice and Senate leadership that will influence how the budget is finalized. It appears House leadership is saying "nope" to this plan and it is unclear how the plan would close the state's…
On the last night of the 2017 Legislative Session, the Senate and the Governor appeared to have worked on a tax plan compromise bill that would make sweeping changes to the state's tax system that would exacerbate our state's budget crisis and shift the tax load onto working families to make room for tax breaks…
This West Virginia Center on Budget and Policy Issue Brief, On the Brink: Closing West Virginia’s Budget Gap, released today, details the various budget proposals offered by Governor Jim Justice and the West Virginia Legislature to close the state’s nearly $500 million budget deficit. Read the full brief. The legislature passed a budget with major cuts…