By Steven Allen Adams, The Journal
CHARLESTON, W.Va. — Gov. Jim Justice had much to say Thursday about West Virginia’s record-breaking period of tax collections resulting in a $1 billion surplus one month before the end of the fiscal year, but he offered no comfort to state residents feeling the effects of inflation and higher gasoline prices.
During his virtual press briefing from the State Capitol Building, Justice praised tax revenue numbers released Wednesday showing the state collected $5.2 billion in tax revenue for the final 11 months of fiscal year 2022, as of the end of May.
The $5.2 billion in tax collections was 26.9% more than the $4.1 billion revenue estimate from the state Department of Revenue for July 2021-May 2022, resulting in a $1.1 billion surplus fiscal year-to-date. The fiscal year ends Thursday, June 30.
“I know I sound almost like a broken record, but a broken record it is,” Justice said. “We’ve broken record after record after record … we’ve just set a record where we exceeded $5 billion dollars of revenue in the State of West Virginia and did it in 11 months. We’ve still got another month. It’s amazing beyond belief what is going on.” …