West Virginia Public Broadcasting – If West Virginia voters say yes to “Amendment 2” on the November ballot, the state legislature will have the authority to eliminate business equipment and inventory taxes and the property tax on vehicles.
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Senate President Craig Blair, R-Berkeley, embraces the tax cut plan, but many county leaders fear the tax cuts would devastate basic public services.
Blair said one of many examples of the harm caused by West Virginia’s equipment and inventory tax began in 2016, when coal demand was low, mines shut down and moved equipment out of state or sold it. Blair said fast forward to the past two years — he figures the state lost between $75 million to $125 million, because coal demand and prices went up. But miners didn’t have the equipment to get it out of the ground.
