Tax and Budget

May 3, 2023 by Sean O'Leary
Setting State Revenue Estimates Subject Of Debate

West Virginia Public Broadcasting - West Virginia’s annual budget is based on revenue estimates that come from the governor’s office. The budget surplus comes from taxes collected above those revenue estimates. How those estimated amounts are determined garners differing points of view. Listen to the full segment. Sean O’Leary is the senior policy analyst at…

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May 2, 2023 by Sean O'Leary
Gov. Jim Justice Calls April Revenue Collection Historic

Charleston Gazette-Mail, Coal Valley News - Gov. Jim Justice announced this week the largest single-month surplus in West Virginia history. Read the full article. During an announcement Monday at the Capitol, the governor said West Virginia’s general revenue collection for April 2023 was $319 million above estimates, marking the largest single-month surplus in state history.…

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April 18, 2023 by WVCBP
New Report Provides FY 2024 Budget Details, Examines 2023 Tax Cuts and Their Consequences

For Immediate Release: April 18, 2023 Contact: Renee Alves, 559-916-5939 Charleston, WV – During the 2023 West Virginia legislative session, lawmakers had the opportunity to use available revenues to address longstanding needs like ensuring PEIA and Medicaid solvency, filling crisis-level staffing vacancies across state agencies, or increasing investments in neglected areas like higher education and child care. But instead,…

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April 18, 2023 by Sean O'Leary
How Tax Cuts for the Rich Trumped Public Investments: The West Virginia Fiscal Year 2024 Budget

Overview During the 2023 West Virginia legislative session, lawmakers had the opportunity to use available revenues to address longstanding needs like ensuring PEIA and Medicaid solvency, filling crisis-level staffing vacancies across state agencies, or increasing investments in neglected areas like higher education and child care. But instead, the FY 2024 budget debate was dominated by…

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April 10, 2023 by Sean O'Leary
Mountain State Spotlight Explains: Why West Virginia’s Reliance on Volatile Severance Taxes is Problematic

Mountain State Spotlight, Fayette Tribune - For months, West Virginia lawmakers have said one thing repeatedly: the state has more than $1 billion in budget surplus. And when you look at the numbers, that’s largely thanks to the severance tax.  Read the full article. That trend continued last week, as Gov. Jim Justice announced that the state…

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March 17, 2023 by Kelly Allen
West Virginia Gov Signs Budget, Raises, Insurance Changes

Associated Press, US News, CBS News, WDTV - West Virginia Gov. Jim Justice signed a $4.87 billion budget Friday for the next fiscal year along with bills giving pay raises to public employees and making changes to their insurance program. Read the full article. The relatively flat budget compared with past years includes 34 items…

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March 16, 2023 by Kelly Allen
Justice Signs Budget Bill, State Employee Pay Increase, PEIA Bill

Charleston Gazette-Mail, Huntington Herald-Dispatch - The state budget, a pay raise for government employees and a fix for the Public Employees Insurance Agency were among four bills signed into law Friday by West Virginia Gov. Jim Justice. Read the full article. The budget presented in House Bill 2024 totals $4.874 billion and includes 34 surplus appropriations, Justice…

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March 16, 2023 by Kelly Allen
Paychecks May Soon be Adjusted Following West Virginia Tax Cuts

West Virginia MetroNews - Gov. Jim Justice’s administration announced that state tax tables have been adjusted to reflect passage of a 21.25 percent personal income tax cut, and employers can begin to adjust what is withheld from workers’ paychecks. Read the full article. “At my direction, our Tax Department wasted no time making these revisions,…

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March 16, 2023 by Kelly Allen
State Budget Strikes a Balance, But Eyes Are on the Future Too

West Virginia MetroNews - House Finance Chairman Vernon Criss says the budget passed during the most recent legislative session achieves a balance. Read the full article. On Day 59 of the regular legislative session, the House of Delegates completed work on a $4.87 billion general revenue budget that includes provisions for pay raises and tax…

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