image description

Senate, Governor to negotiate tax cut plan

February 10th, 2023 by WCBC Radio

After weeks of tension between legislators and Gov. Jim Justice, the West Virginia Senate announced its long awaited tax plan Wednesday  and then unanimously passed the bill hours later after suspending constitutional rules. The plan aims to return $600 million to West Virginians through various tax reductions, eliminations and rebates. Most notably, it initially cuts the personal income tax by 15% but allows for further reductions after the state passes certain sales tax collection thresholds, and would also provide a 50% rebate on equipment and inventory taxes paid by small businesses. Governor Justice seemed open to the Senate’s plan after it was announced, noting that he expects further negotiations with senators and delegates in the coming weeks…