West Virginia Gov. Jim Justice is proposing a permanent 10% reduction in the personal income tax after the state ended the fiscal year with a record $1.3 billion surplus.
The governor says he plans to call a special session of the Legislature during its interim meetings from July 24 to 26 to address the tax cut.
It’s the third time a personal income tax cut has been proposed in the past year.
The other two attempts failed. Justice says it’s a way for residents to deal with inflation, including the high cost of gasoline, while hoping to lure more businesses into the state.