Charleston Gazette-Mail, Huntington Herald-Dispatch – Gov. Jim Justice on Thursday unveiled the long-awaited details of his proposal to cut the state personal income tax — a plan that would use more than $900 million a year in tax hikes to partially offset a $1.07 billion reduction in income tax revenue. Read the full article.
Justice, who began advocating for the income tax cut shortly after winning reelection last November, revealed a plan that would cut income tax rates by 60% —reducing tax brackets that range from 3% to 6.5% based on income levels to 1.2% to a maximum of 2.6%.
That would reduce annual income tax revenue from about $2.1 billion a year to about $1.03 billion.
