Economy

March 24, 2021 by WVCBP
West Virginia’s Drug Crisis Costs Billions Of Dollars A Year, Report Says

West Virginia Public Broadcasting - West Virginia consistently has one of the worst rates of drug overdose deaths in the nation, and Centers for Disease Control and Prevention data show that toll has only been increasing in recent years. The West Virginia Center for Budget and Policy released a report on the economic toll of drug-related deaths and…

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March 23, 2021 by Sean O'Leary
House Income Tax Cut Plan Would Devastate the State Budget

This week, the House Finance Committee originated and quickly passed their own income tax cut bill (HB 3300) as an alternative to Governor Justice's proposal. Unlike the governor's proposal, the House plan contains no offsetting revenues and would instead lead to massive budget deficits while giving most of the tax cuts to high-income West Virginians.…

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March 23, 2021 by Renee Alves
Drug Crisis: Real Change is Needed to Combat Problem

Parkersburg News and Sentinel - If the human toll is not enough reason for some elected and bureaucratic officials to take seriously the fight against substance abuse and addiction in our state, here is one that might come closer to speaking their language: According to the Center on Budget and Policy, treating and addressing substance…

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March 23, 2021 by Sean O'Leary
Two Income Tax Reduction Bills Offer Differing Approaches for West Virginia Finances

WCHS - Two bills have been introduced to address West Virginia’s income tax debate. Both eventually eliminate the state's income tax, which counts for $2.1 billion of the state’s budget, but do it in very different ways. Read the full article. First, Governor Jim Justice's plan: Lower the state income tax but 60% the first year,…

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March 22, 2021 by WVCBP
Report: Addiction Cost West Virginia Estimated $11B in 2019

WV News, Martinsburg Journal-News, Keyser Mineral Daily News Tribune - Treating and addressing drug addiction cost West Virginia an estimated $11.3 billion in one year, according to a new report from the Center on Budget and Policy. Read the full article. The report, written by economist Jill Kriesky, says the state spent that much in…

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March 22, 2021 by WVCBP
Report: Addiction Epidemic Cost WV $11.3 Billion in 2019

Huntington Herald-Dispatch, Charleston-Gazette - A new report from the West Virginia Center on Budget and Policy has estimated the addiction epidemic cost the state $11.3 billion in 2019 alone. Read the full article. The report, written by economist Jill Kriesky, examines the dollars spent on treating and addressing the diverse array of harms that stem…

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March 18, 2021 by WVCBP
New Report Reveals Enormous Costs of Addiction Crisis in WV and Kanawha County, Explores Harm Reduction as Mitigation Tool

For Immediate Release: March 18, 2021Contact: Renee Alves, 559-916-5939 Charleston, WV – For at least the last decade, West Virginia has been at the forefront of the overdose epidemic in the United States. Since 2010, its death rate per 100,000 by overdose of any type of drug has led the nation. Our new report released today both shows…

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March 18, 2021 by WVCBP
Saving Lives and Saving Money: The Case for Harm Reduction in Kanawha County, WV

Read the full report here. Executive Summary There is no doubt to residents and policymakers in West Virginia that the state has a drug epidemic problem that is costly in terms of lives lost annually, as well as expenses incurred for medical and mental health treatment, for law enforcement, and for social services provision. In…

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March 17, 2021 by Kelly Allen, Sean O'Leary
Phase-ins and “Triggers” for Tax Cuts Only Extend Pain, Provide False Illusion of Fiscal Responsibility

Ten states, including West Virginia, have enacted proposals that cut personal or corporate income taxes at various points in the future, contingent on revenues reaching a certain level or growth rate. While using triggers is often portrayed as fiscally responsible, it is far from it. Lawmakers enacting these drawn out tax cuts typically do not…

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