West Virginia Watch – About four months out from an election that could make him West Virginia’s next U.S. senator, Gov. Jim Justice on Monday announced that the state has hit the trigger to phase out its personal income taxes while also directing the Legislature to convene for a special session to increase those tax cuts by another 5%.
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The tax cuts that were triggered this week are based on revenue collections from fiscal year 2024, which came about $826 million above estimates. They will be enacted between 3% and 4%, though details for exactly what they will look like will be released on July 11, according to a news release.
“We’ve got another surplus of numbers that are just un-flat-believable in every way,” Justice said. “$826 million … today, with the tax cuts that we have in place and all that has been done, another $826 million. If you don’t believe that that’s a miracle from God above, you got something wrong with you …”
