West Virginia Gov. Jim Justice said the state ended its fiscal year with a revenue surplus that is expected to trigger cuts to the state’s personal income tax requirement.
Mr. Justice announced on July 1 during his fiscal year end report that the state collected an extra $826 million, which will reduce income tax rate by approximately 3 to 4 percent.
“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,” Mr. Justice said in a statement.
“This is exactly what a responsible government should do for its people, especially in a state like ours,” he said. “When the state does well, the people do well. That’s why we established these triggers.”…