While the last post found that state income taxes have little or no impact on interstate migration, there is also little evidence that slashing or eliminating the personal income tax is a surefire way to boost economic growth in the Mountain State. Most of the states that have followed this path recently have not experienced…
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State Journal -Â About 10 years ago, West Virginia lawmakers phased in large corporate tax cuts. This included a series of reductions to the corporate income tax rate, which dropped from 9 percent to 6.5 percent over this time period, and phasing out the business franchise tax. At the same time, lawmakers enacted a manufacturing property…
We Are Thankful for You As we enter the holiday season we would like to pause to express how thankful we are to you, our supporters. Happiest of all holiday seasons to you and your families! Save the Date - Budget Breakfast, January 21, 2015 The WVCBP will hold its second annual Budget Breakfast…
For Immediate ReleaseContact: Linda Frame, 304-720-8682(Charleston, WV) Today the Invest in Working Families Coalition launched its interactive tool to show how a West Virginia Earned Income Tax Credit (EITC) can help working families make ends meet while boosting the economy. The coalition is made up of 18 groups from across the state coming together to…
The cost of prescription drugs is one of the leading health care issues in the United States, accounting for $335 billion of total health care spending in 2018 [1] and over 23 percent of total health insurance premium costs.[2] And the cost of prescription drugs is rising. The cost of prescription drugs is one of…
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…
On March 23, Governor Tomblin used his line-item veto power to cut several early childhood and domestic violence programs from the FY2015 budget passed by the legislature. This included over $1 million in cuts to In-Home Family Education, Family Resource Networks and Starting Points Family Resource Centers, Child Advocacy Centers, domestic violence programs and services,…
The second full week of the West Virginia Legislature saw several developments, some good, others not so much. The week started off with the Senate Judiciary Committee passing yet another Article V Constitutional Convention Resolution, SCR 4. Under the guise of instituting "Term Limits" on members of Congress, well-funded special interests seek to undermine our…
The second full week of the West Virginia Legislature saw several developments, some good, others not so much. The week started off with the Senate Judiciary Committee passing yet another Article V Constitutional Convention Resolution, SCR 4. Under the guise of instituting "Term Limits" on members of Congress, well-funded special interests seek to undermine our…
The city of Huntington voted earlier this month to eliminate the city's Business and Occupation (B&O) tax for restaurants and retailers, which is expected to result in an annual revenue loss of $2 million. The city is hopeful that the revenue loss will be offset by increased local sales tax revenue. However, this is a…