Blog Posts > Two Income Tax Reduction Bills Offer Differing Approaches for West Virginia Finances
March 23, 2021

Two Income Tax Reduction Bills Offer Differing Approaches for West Virginia Finances

WCHS – Two bills have been introduced to address West Virginia’s income tax debate. Both eventually eliminate the state’s income tax, which counts for $2.1 billion of the state’s budget, but do it in very different ways. Read the full article.

First, Governor Jim Justice’s plan: Lower the state income tax but 60% the first year, and offset that $1 billion by raising the sales tax by 1.9% and increasing taxes on soda, tobacco and alcohol.

It’s seen opposition from small businesses.

“They are concerned with so much of our population living in border counties that it’s just too easy to go across to the next state to shop. And it has the effect of closing our borders. Other people from other states will not want to come here and shop,” West Virginia Chamber of Commerce President Steve Roberts said.

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