West Virginia Public Broadcasting - The West Virginia House of Delegates has passed a bill that would reduce the personal income tax each year until it is fully eliminated. The measure would equate to at least a $150 million annual loss in revenue and would ultimately cost the state more than $2 billion each year…
Tax and Budget
Mountain State Spotlight, Beckley Register-Herald - Jeff McKay, like many business owners in West Virginia, has had a tough time dealing with this pandemic. Read the full article. “I’m probably being too conservative by saying that,” said the owner of Huntington’s Summit Beer Station. Fortunately, with the vaccine rate improving, McKay says things are looking up…
West Virginia MetroNews - A House bill to cut the personal income tax by at least $150 million a year until it’s eliminated is on the edge of passage, while Gov. Jim Justice continues to sell a different plan to state and national audiences. Read the full article. House Bill 3300, anticipated to eliminate the income tax…
Charleston Gazette-Mail - A House of Delegates plan to phase out the state’s personal income tax, the state’s largest source of general revenue at about $2.1 billion a year, will be on passage stage in the House Friday. Read the full article. A counterpoint to Gov. Jim Justice’s proposal to initially cut income tax rates…
West Virginia MetroNews - If one income tax proposal wasn’t enough to figure out, now West Virginians have two. Read the full article. Gov. Jim Justice introduced a 60 percent cut in the personal income tax a few weeks ago, offsetting the reduction by increasing and expanding sales taxes. The House Finance Committee this week…
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.…
West Virginia MetroNews - The House Finance chairman says an income tax proposal that rolled out of committee this week has “wow factor.” Read the full article. “Real money, real dollars, citizens getting tax relief every year, that’s the wow factor,” House Finance Chairman Eric Householder, R-Berkeley, said today on MetroNews’ “Talkline.” The bill passed…
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,…
West Virginia MetroNews - The state Senate is considering a resolution that could allow lawmakers to lower personal property taxes, particularly on vehicles. Read the full article. The Senate Judiciary Committee approved the resolution Thursday after about an hour of discussion, and it will now be considered by the Senate Finance Committee. If both houses of the…
The Dominion Post, Yahoo News - The Senate Judiciary gave its approval Thursday to a proposed constitutional amendment that would give the Legislature the power to control personal property tax rates. Opponents worry such a move could blow holes in county budgets and force the counties to raise property tax rates. Read the full article.…