Tax and Budget

December 11, 2020 by Kelly Allen
Kelly Allen: Tax Plan Would Hurt Those Still Reeling from Pandemic (Opinion)

Charleston Gazette-Mail - Since the pandemic began, America’s billionaires have grown their wealth by a staggering $1 trillion. At the same time, families in West Virginia and across the country are facing increasing hardship and difficulty meeting their basic needs as the health and economic effects of COVID-19 drag on. Read the full article. In…

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December 2, 2020 by WVCBP
State Tax Collections Continue to Top Projections in November

Charleston Gazette-Mail, Huntington Herald-Dispatch - State tax collections in November continued to top expectations, likely as federal pandemic stimulus funding continues to churn the state economy. Read the full article. Justice and Revenue Secretary Dave Hardy have downplayed the impact of the infusion of more than $3 billion of federal pandemic stimulus funds into the…

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September 28, 2020 by WVCBP
Ted Boettner: Oil, Natural Gas Industries Seek Huge Tax Breaks

Charleston Gazette-Mail - While West Virginians are dealing with the COVID-19 pandemic and trying to figure out if their kids can attend school, the oil and gas industry is working with the West Virginia State Tax Department to cut its property taxes by as much as $62 million per year. Read full article. Last month,…

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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 27, 2020 by Kelly Allen
COVID Economic Crisis Highlights Why We Should Be Wary of Longview PILOT Agreement

Morgantown Dominion Post - Over the past several months, the Monongalia County Commission has been negotiating a “payment in lieu of taxes” (PILOT) deal with Longview Power LLC to build a gas-fired power plant. PILOT agreements are property tax abatements where corporations agree to make annual payments to local governments instead of paying the property…

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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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