WQBE News

Governor Proposes an Income Tax Cut

Gov.Jim Justice announced a $1.3 billion tax revenue surplus for the 2022 fiscal year this week and pledged a special session of the legislature to take up a personal income tax reduction bill. The governor said the surplus set a state record for a single year. West Virginia Secretary of Revenue Dave Hardy said most of the revenue growth came from record-breaking personal income tax, consumer sales tax, corporate net income tax and severance tax collections. The bill that would cut personal income tax by 10% would be an aggregate with different levels of tiering. He said he plans to call a special session of the West Virginia Legislature on the issue in July. The proposed reduction would be retroactive to the beginning of 2022.

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