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History two years in the making largest tax cut in West Virginia history nears completion

March 5th, 2023 by WCBC Radio

CHARLESTON, WV – Gov. Jim Justice issued the following statement today after the West Virginia Legislature joined the Governor by voting in favor of a deal which, when signed into law, will be the largest tax cut in West Virginia history:

“Exactly 2 years ago to this day, I proposed a personal income tax cut for all West Virginians. 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.

“This deal returns over $750 million to hardworking West Virginians through a major cut to our personal income tax, rebate of the car tax, a 50% rebate of the property tax for small businesses, and tax credits to West Virginia Veterans. It also puts us on a pathway toward the complete elimination of our personal income tax. It’s a win-win for all West Virginians.

“It’s been a long two years to get to this point, and I thank all West Virginians for sticking with me. Now, it’s finally our time to seize the opportunity to transform West Virginia’s tax structure in unprecedented ways, raise wages, raise home values, bring in even more businesses, more people, and make life better for all West Virginians.

“I thank the members of the Legislature for their votes, especially President Blair and Speaker Hanshaw, their leadership teams, and their Finance chairs, and I look forward to a big celebration next week where I will officially sign the bill into law and seal this deal once and for all.”