CHARLESTON, WV – Gov. Justice reported today that the State of West Virginia ended Fiscal Year 2021 with a $413 million revenue surplus, despite the effects that the COVID-19 pandemic has had on the State’s economy.
Gov. Justice requested and the West Virginia Legislature approved the appropriation of $150 million for secondary roads and $253.8 million for a variety of projects and initiatives in a pair of recent Special Sessions. The remaining surplus will be deposited to the Rainy Day Fund soon.
“We asked the Legislature to step up...they did so, and those dollars will be flowing through projects to help our roads and to help all kinds of other different projects all throughout our state,” Gov. Justice said.
The Governor went on to report substantial growth in its returns in corporate net income tax, consumer sales tax, personal income tax, and severance tax.
“Our state is diversified today in many different areas; from medicine to high-tech to tourism and all the different things that are happening all across our state,” Gov. Justice said. “Severance tax being up is another goody, that’s for sure. But it is not the only goody. In fact, it’s far from it.
“You’ve done really good, West Virginia, and I’m really proud of you.”