Lawmakers seek six-year financial plan as they consider Justice’s personal income tax cut

West Virginia lawmakers are making a strong push for a six-year financial plan from Governor Jim Justice before they can responsibly consider his proposal for a 5% personal income tax cut. This request has emerged after years of unsuccessful attempts to obtain long-term financial forecasts from the governor and state revenue officials, raising concerns about fiscal transparency. Delegate Larry Rowe, representing Kanawha, introduced the need for these financial insights during a recent House of Delegates session, highlighting the urgency of the matter. Lawmakers believe that without a comprehensive understanding of the state's financial outlook, they cannot adequately assess the implications of such a tax cut. The insistence on a detailed financial plan is a reflection of the lawmakers' commitment to responsible governance and economic planning.

As discussions unfold, the potential impacts of the proposed tax cut on state revenue and public services remain a critical area of focus. The outcome of these deliberations could have lasting effects on West Virginia's economy and the financial well-being of its residents. Lawmakers are determined to ensure that any changes to the tax structure are backed by solid financial data and projections.