By Roger Adkins, Charleston Gazette-Mail
CHARLESTON, W.Va. — Gov. Jim Justice’s proposed 50% tax cut wasn’t on the West Virginia Senate Finance Committee’s agenda Monday, but the governor said in a news conference he remains hopeful the legislation will cross the finish line.
Justice said there’s a tradition in the Mountain State of dressing up pickup trucks, but he didn’t dress up his tax cut proposal.
“This is a plan that does not have mud flaps or squirrel tails,” Justice said in a news conference Monday at the Capitol.
The plan would reduce taxes by 30% in Fiscal Year 2023 and by 10% the following two years.
It also would reduce income tax revenue by $161 million in FY 2023. That number grows to $1 billion in FY 2024 and to $1.5 billion by the time the reduction is fully implemented. The reduction in revenue would be permanent, unless the tax is increased later by a future Legislature…
