Charleston Gazette-Mail, Huntington Herald-Dispatch, Williamson Daily News, Tax News Daily – The West Virginia House of Delegates passed a bill cutting personal income tax rates by 10% in a 76-20 vote on Friday. read the full article.
House Bill 4007 now heads to the Senate. If passed into law as it currently reads, the bill would implement a 10% reduction to income tax rates on Jan. 1, 2023. If the state ends the fiscal year with a surplus, the bill would establish a fund that takes 50% of that surplus and puts it toward further cuts to the income tax rate.
After flying through the House Finance Committee in about three minutes on Monday, the bill was debated on the House floor Thursday and Friday. House Democrats questioned how much the plan would help the average West Virginian.
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