Tax and Budget

March 1, 2024 by Kelly Allen
To Comply With the Feds, West Virginia Must Pass a Strong Budget

This week we got our first look at the House and Senate versions of the FY 2025 budget. Both the Senate and the House proposed budgets came in far below the governor’s proposed budget, even as the governor’s budget proposal is $450 million below pre-pandemic FY 2019 expenditures after adjusting for inflation. And while legislative…

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February 23, 2024 by Kelly Allen
Social Security Plan To Phase Out Taxes

Newsweek - Lawmakers in West Virginia have approved a bill that will see state income tax on Social Security benefits be gradually phased out. Read the full article. Republican Governor Jim Justice announced in January during his annual budget proposal that he wished to see all state-levied taxes on Social Security axed. The plan has taken a step…

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February 22, 2024 by Sean O'Leary
West Virginia Growing More Reliant on Volatile Severance Tax Revenue

West Virginia's revenue collections are down $378 million compared to this time last year, in large part due to a collapse in severance tax revenue. At this point in FY 2023 West Virginia had collected $631 million in severance tax revenue, while this year the state has only collected $168 million as a result of…

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February 22, 2024 by Kelly Allen
House Passes Bill to Eliminate Social Security Tax 

West Virginia Watch, News from the States - The West Virginia House of Delegates on Thursday unanimously passed legislation that would eliminate the state’s tax on Social Security benefits. Read the full article. House Bill 4880 would implement the tax cut over three years, starting with a 35% deduction for 2024, 65% for 2025 and 100%…

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February 22, 2024 by Kelly Allen
West Virginia House OKs Bill to Phase Out Social Security Tax

AP News, US News, Parkersburg News and Sentinel, CBS News - West Virginia’s Republican-led House of Delegates approved a bill Thursday that would cut and gradually phase out the state income tax on Social Security benefits. Read the full article. Eliminating the tax is a key priority for GOP Gov. Jim Justice, who announced it…

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February 19, 2024 by Sean O'Leary
Inside the West Virginia Governor’s Little-known Fund: Disaster Relief, Sports Complexes and Race Car Drivers

Mountain State Spotlight - In Logan County, an outdoor theater production got $7,000 for new lights. In Kenova, $21,150 went towards paving the library’s parking lot. In the Eastern Panhandle, Berkeley County received around $150,000 for park and baseball field improvements. And just 10 miles from the Capitol, the Kanawha County Commission will use $1…

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February 14, 2024 by Sean O'Leary
WV’s Revenue Tax Gap Grows as Changes Phase In

Spirit of Jefferson - After five years of flat budgets, lawmakers returned to Charleston for the 2024 legislative session with many important spending priorities to address major needs. Members of the Republican majority have said they want to provide pay raises for public employees and raise starting salaries in sectors with vacancies, increase provider reimbursement…

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February 8, 2024 by Kelly Allen
A Conversation On Tax Revenues From Coal, Natural Gas

West Virginia Public Broadcasting - On this episode of The Legislature Today, higher demand for coal and natural gas, as well as higher prices, produced a severance tax windfall for the state over the past few years. But prices have fallen, and with it, tax revenues. Listen to the full segment. To get a better idea…

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February 6, 2024 by Sean O'Leary
West Virginia’s Revenue Gap Grows to $378 Million as Tax Changes and Their Impacts Continue to Phase In

After five years of flat budgets, lawmakers returned to Charleston for the 2024 legislative session with many important spending priorities to address major needs. Members of the Republican majority have said they want to provide pay raises for public employees and raise starting salaries in sectors with vacancies, increase provider reimbursement rates, and address child…

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