Coal plays a significant role in West Virginia’s economy, contributing hundreds of millions of dollars in state and local revenue and providing well-paying jobs to tens of thousands of West Virginians. However, the size of the coal economy, while substantial, is not as considerable as previous accounts suggest. Further, such accounts have only presented coal’s…
Tax and Budget
Sorry for not posting over the last two weeks, but I've been out of the country. I am just now catching up on the news. Howard Swint had a thought provoking op-ed in the Gazette this past Friday advocating for a 40% profits tax on coal to replace the coal severance tax. As many may…
Back in December, the Governor issued an executive order to cut $120 million from the FY10 budget . He did this, according to our report, based on an overly pessimistic review of the November 2009 tax revenue collections. When collections rose in December, the Governor said "we must stay the course." We said then…
As I mentioned in my last post , the Census projects that by 2030 one in four West Virginians will be over age 65. As a result, it could cost state and local governments a lot revenue. This is because seniors, in general, are not part of the labor force. This means they pay less in…
A state version of the federal Earned Income Tax Credit would bolster the economic security of working families, according to a new report released February 17 by the West Virginia Center on Budget and Policy and the Alliance for Sustainable Families. The state credit would impact an estimated 90,000 working families who struggle to make…
When year-to-date budget revenues declined by $13.7 million in November, the governor reacted by ordering state agencies to cut 3.4 percent of their budgets. Read
Federal Recovery Act funding will prevent deep cuts in the state budget next year, as it has done this year. However, future budget shortfalls are on the horizon for West Virginia. This brief by the West Virginia Center on Budget and Policy takes a close look at the governor's proposed budget for FY 2011 and…
While the Recovery Act continues to bolster Medicaid funding, other health programs fared less well in the Governor's budget. According to a new brief by the Center on Budget and Policy, several small programs (including the WV Center for End of Life) were zeroed out, while others (including the Tobacco Education Program) received substantial cuts. …
“Paying for Priorities” examines how this year’s state budget was developed, where the revenues are expected to come from, and how the funds will be allocated among state agencies and programs. Read
A summary of West Virginia's $178 million budget surplus for FY 2009. Read