Editorial: Liberals Think Taxes Too Low
Wheeling Intelligencer – Ever notice, fellow taxpayers, how liberals are quick to inform us we’re not sending enough of our hard-earned dollars to Charleston and Washington? It’s happening again in West Virginia. Read
Later this year, Gov. Earl Ray Tomblin probably is going to have to order another round of spending cuts in West Virginia state government. That’s because revenue is not keeping pace with the budget for this fiscal year, which began July 1.
At the end of October, four months into the year, general fund revenue was nearly $42.5 million behind estimates. State Budget Office Director Mike McKown has warned the general fund may be $80 million in the red by next June 30.
Worse is to come, McKown cautions. The next fiscal year’s budget may be $260 million out of balance.
It’s all because of those irresponsible tax reductions, the West Virginia Center on Budget and Policy insists. The CBP cited $316 million a year lost due to tax breaks for business and elimination of the sales tax on food.