By Charles Young, The Exponent Telegram
CHARLESTON, W.Va. — The members of the West Virginia Legislature will be asked to enact an additional reduction to the state’s personal income tax during a special session later this year, Gov. Jim Justice said Monday.
Speaking during an event to celebrate the end of the state’s Fiscal Year 2024, Justice said he plans to call a session in “August or September” to have lawmakers consider a further 5% reduction to the PIT.
“I want to call you back,” Justice said to the lawmakers in attendance. “I want to challenge you to somehow, someway, try to do an additional 5% on the personal income tax,” he said. “It’ll be tough, but there’s a way to do it.”
The governor suggested lawmakers take funds from the state’s budget surplus and put them aside as a safeguard against the revenues that would be lost by putting further cuts in place.
“Calculate what that additional 5% reduction in income tax would cost, and take double that from the surplus and put it in the income tax reserve fund,” he said. “It’ll protect you for at least two years.”
Del. Mike Pushkin, D-Kanawha, chair of the state Democratic Party, released a statement criticizing the governor’s proposal.
“He has no plan for how to come up with the money it would take to further reduce taxes, he just feels like there’s a way to do it,” Pushkin said.
