Gov. Jim Justice and Secretary of Revenue Dave Hardy will hold three town hall events this week to discuss the Governor’s proposal to reduce the state’s personal income tax by 50%.
WHEN: Thursday, January 26, 2023, at 12:00 p.m.
WHERE: Tamarack Conference Center
1 Tamarack Park, Beckley, WV 25801
Live stream: https://youtu.be/T6kMM5WgVnk
ABOUT THE GOVERNOR’S PROPOSED TAX CUT
The Governor’s proposal includes a 50% personal income tax reduction over three years while setting aside $700 million to establish a Personal Income Tax Reserve Fund that almost equals our current Rainy Day Fund. This insurance policy protects against any shortfalls as we go forward.
The phase-out begins with a 30% reduction in January 2023, and another 10% reduction in the following two years.
On Jan. 18, the West Virginia House of Delegates voted bipartisanly to pass the proposal 95-2.