Another day, another business climate ranking with a poor result for West Virginia, this time coming from the Forbes 2012 Best States for Business list, which ranks West Virginia as the 45th best state for business. Forbes first started ranking the states in 2006, so like I did earlier this week with the Economic Freedom…
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Our state safety net is a crucial lifeline for families and children in poverty, whether it is providing child care assistance to help a single mom get to work, providing affordable and quality health care to a child or disabled person, or ensuring that kids can get breakfast at school. Unfortunately, West Virginia has one…
Last week, an article in the Daily Mail noted that West Virginia once again ranks poorly in an economic index, this time the Economic Freedom of North America 2012 index, created by the Fraser Institute. According to the study, West Virginia is one of the least economically free states in the country, and that economic freedom increases affluence.…
(continued from Part 1 published 11/28/12) In FY 2012, the personal property tax produced over an estimated $122 million for the 55 county governments in West Virginia, accounting for more than 30 percent of all county property tax revenue. And since property taxes account for 63 percent of county government revenue, that means the personal property…
At a recent interim committee meeting regarding creating a work sharing program in West Virginia, concerns were raised over potential conflicts between work sharing and collective bargaining agreements. Fortunately, these concerns are easily addressed, and do not pose a hurdle for the creation of a work sharing program in West Virginia. Work sharing allows employers, in…
Expanding Medicaid to 130,000 West Virginians would provide $281 million in uncompensated care savings, according to a new report by the Urban Institute. Taking these savings into account, the total cost of expanding Medicaid in the state would by only $338 million or just $33.8 million per year over the next ten years (2013-2022). This…
Today, the New York Times had an in-depth front page article exposing the $80 billion state and local governments bankroll businesses each year in subsides, including low-interest loans, grants, tax credits, and other gifts through the tax code. The report finds that West Virginia spends $1.57 billion per year on business incentives, ranking the state…
It seems every year, proposals are floated to remove West Virginia's property tax on business personal property or personal property in general. My first report with the WVCBP looked at the fiscal impact of eliminating the property tax on business machinery, equipment, inventory, and other business personal property, as recommended by then Governor Manchin back in 2010. In that…
Yesterday, Mark Muchow, the Deputy Secretary of the Department of Revenue, presented at November Legislative Interims on the future of state severance taxes. In his presentation (Severance Tax Trends -November 26, 2012), he found that severance taxes are going to decline and stagnant over the next few years because the boom in shale natural gas…
As part of the "fiscal cliff" and "grand bargain" deficit negotiations, some CEOs, politicians, and pundits are saying that raising the retirement age of Social Security should be on the deficit chopping block despite the fact that it does not contribute to the federal budget deficit. Raising the retirement age is usually premised on the…