West Virginia Watch, Beckley Register-Herald, Times West Virginian – As August approaches, state leaders are still uncertain about what the impact could be of the impending trigger that could — depending on revenue collections — bring an end to the state’s personal income tax and, in turn, a budget deficit of unknown proportions.
Read the full article.
Senate Finance Chair Eric Tarr, R-Putnam, said, based on recent revenue projections, he expects to see the trigger hit at the end of fiscal year 2024 at a rate that would mean about a $36 million decrease in revenue over the next two years ($18 million in each fiscal year).
“I’m fairly confident in that range, but until we get to the end of July, well I can’t say it’s 100% certain,” Tarr said. “We’re more confident now, though.”
