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This week, thanks to a MetroNews article, we got a sneak peak about the Senate’s upcoming tax plan. We’ve been following SJR8 – the Manufacturing Growth Amendment since its introduction.
The plan includes a phase out of the Business Inventory tax in machinery, equipment, and and inventory. It’s aimed at furthering the manufacturing in West Virginia, an issue we always watch! It would be a cut of $300m total each year, and the proposed idea to makeup the shortfall includes a raise in the sales and tobacco taxes.
We oppose putting the majority of taxes on the people of West Virginia while continuing to give industry breaks. Read more about the proposal on the MetroNews link above!
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We don’t need any more tax breaks for industry. The PILOT programs and the reduced severance taxes have not worked. This giveaway, SJR8 won’t work either. WV has had two environmental catastrophes which have received nationwide attention, the Bayer Explosion in 2008 and the water poisoning in 2014. People don’t want to live in a place without clean air and water. WV has been losing population because people are afraid to come live here. Best we hang onto our limited tax dollars and clean up our environment and improve education. Only then will we see prosperity in WV.