Gov. Justice delivered his final fiscal year-end report, announcing that the annual revenue surplus will trigger another reduction in personal income tax rates.
State revenue collections exceeded estimates by $826.6 million for Fiscal Year 2024, enabling a 3% or 4% personal income tax cut, as set by the trigger system in House Bill 2526, which the Governor signed in 2023.
"Today is truly a day for celebration in West Virginia," Gov. Justice said. "When I first took office, I promised you all a rocket ship ride, and look at us now. We've cut over a billion dollars in taxes, and it's truly unbelievable. This is exactly what a responsible government should do for its people, especially in a state like ours. When the state does well, the people do well. That's why we established these triggers. As West Virginia thrives, our people thrive and deserve that prosperity. We already have so much to be proud of, but there's more work ahead. I won't be your Governor much longer, and we need to continue marching towards eliminating the personal income tax. Doing so will only bring more and more people to this incredible place and promote even more goodness."
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