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…
Tax and Budget
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…
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%…
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…
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…
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…
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…
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…
New York Times - John Chambers grew up in West Virginia and went on to run what was once the world’s most valuable company, the computer networking firm Cisco Systems Inc. Now he is trying to help economically lagging West Virginia by making it a “start-up state” akin to Israel, which has been called the start-up nation.…
Earlier this month, the Governor unveiled his proposed FY 2025 budget, which is now in the hands of the Legislature to review, amend, and pass. Proposed and enacted tax cuts continue to crowd out long-needed spending priorities in Governor Justice's budget, which once again relies on one-time surplus revenue that will likely soon dry up…