Center Square – The West Virginia House passed a record tax cut on over the weekend that will ultimately have an $817.8 million annual impact, according to a fiscal note on the bill.
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The bill, which passed the West Virginia Senate a week before, also includes a rebate on the state’s ad valorem car tax, a 50% rebate of the property tax for small businesses and property tax credits to West Virginia’s veterans.
“Exactly two years ago to this day, I proposed a personal income tax cut for all West Virginians,” West Virginia Gov. Jim Justice said in a statement. “Since that time, I’ve been doggedly pursuing a meaningful tax reform deal to help our people struggling with inflation, and to give them back their share of our state’s financial successes. Today, we’re nearing home base on this historic deal, negotiated by myself and the leaders of our Legislature, that will really, truly help our people, and I couldn’t be happier.”