Blog Posts > Statehouse Beat: Hypocrisy from Justice on Taxes, Economy
July 21, 2024

Statehouse Beat: Hypocrisy from Justice on Taxes, Economy

Huntington Herald-Dispatch – In touting an anticipated additional incremental reduction in state personal income tax rates, Gov. Jim Justice and other tax cut advocates are engaging in an amusing bit of hypocrisy.

Read the full article.

Under the 2023 law that initially cut income tax rates by 21.25%, there’s a rather complicated formula for calculating additional incremental cuts in years going forward.

In a nutshell, if in the prior fiscal year, state economic growth — as measured by increases in state general revenue collections compared to base year 2019 – exceeds the national rate of inflation – measured by a 12-month average of the Consumer Price Index — then a tax cut is in order.

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