By Phil Kabler, Charleston Gazette-Mail
CHARLESTON, W.Va. — Gov. Jim Justice on Thursday unveiled the long-awaited details of his proposal to cut the state personal income tax — a plan that would use more than $900 million a year in tax hikes to partially offset a $1.07 billion reduction in income tax revenue.
Justice, who began advocating for the income tax cut shortly after winning reelection last November, revealed a plan that would cut income tax rates by 60% —reducing tax brackets that range from 3% to 6.5% based on income levels to 1.2% to a maximum of 2.6%.
That would reduce annual income tax revenue from about $2.1 billion a year to about $1.03 billion.
In a statement Thursday, Justice called it the “last big piece of the puzzle” needed to spur the state economy and bring population growth…