βToday is truly a day for celebration in West Virginia,β Gov. Justice proclaimed. βWhen I first took office, I promised you all a rocket ship ride, and look at us now. Weβve cut over a billion dollars in taxes, and itβs truly unbelievable. This is exactly what a responsible government should do for its people, especially in a state like ours. When the state does well, the people do well. Thatβs why we established these triggers. As West Virginia thrives, our people thrive and deserve that prosperity. We already have so much to be proud of, but thereβs more work ahead. I wonβt be your Governor much longer, and we need to continue marching towards eliminating the personal income tax. Doing so will only bring more and more people to this incredible place and promote even more goodness.β
The billβs automatic trigger system reduces the personal income tax rate when revenue collections exceed the rate of inflation, which will be announced on July 11, 2024. This mechanism aims to eventually eliminate the stateβs personal income tax. Additionally, Gov. Justice celebrated the elimination of the longstanding βpop tax,β a 1-cent tax that has been in place for decades.
βToday we have another historic announcement, which seems like we get to do quite often in the Justice Administration,β said Larry Pack, Acting Secretary of the West Virginia Department of Revenue. βWeβre cutting taxes across the board, yet our surplus keeps growing stronger. Under his leadership, weβve experienced unprecedented economic growth. Gov. Justice is right; the last seven years have indeed been a rocket ship ride. West Virginia is truly experiencing something special, and we should all be proud to watch it happen.β
Gov. Justice also urged the legislature to consider additional tax cuts during their planned special session in August, where they will discuss a childcare tax credit.
Since taking office, Gov. Justice and the West Virginia legislature have delivered over $1 billion in tax cuts to the people of West Virginia. The latest personal income tax cut will take effect on January 1, 2025. For more information, visit the West Virginia State Tax Departmentβs website.
Matt Pinner is a dedicated journalist for WVPrepBB.com, specializing in USA and crime news. With a keen eye for detail and a passion for uncovering the truth, Matt brings timely and insightful reporting to his readers. His work on WVPrepBB.com keeps the community informed and engaged with the latest developments in national news and criminal justice.
