More Cuts Possible For Next Year's Budget
Budget Beat - August 9, 2013
Nonprofit Hospitals With Large Profits
West Virginia's ten largest nonprofit hospitals had $227 million in net profit in 2011 while having tax-exempt status and paying their CEOs six-figure salaries. In his blog post this week, Brandon introduces possible ways these hospitals could contribute financially to the local communities that support them with important services, while maintaining their tax status.
The alternative fuel tax credit has become a victim of its own success. The West Virginia Department of Revenue greatly underestimated how many people would take advantage of the credit and the incentive has now been repealed. Sean's blog post questions why this particular tax give-away has gotten so much attention when there are bigger credits that have also contributed to the state's budget shortfall.
In the News - Future Fund in the Headlines
On Thursday, Ted appeared on WRVC Talk Radio to discuss the Future Fund. As the date for Senator Kessler's trip to North Dakota nears (see below), the idea is getting more attention across the state.
Are Tax Cuts Worth It?
State officials announced this week that another round of budget cuts might be coming in Fiscal Year 2015. Some state agencies may be forced to trim 7.5% from their budgets. The Charleston Daily Mail today quoted Ted suggesting that it's time to see if all the tax cuts and subsidies of recent years are doing their intended jobs and if these budget cuts are worth the price.
SNAP Benefits To Be Reduced For Thousands of West Virginians
Last week's WVCBP report on SNAP benefits being reduced to 350,000 West Virginians come November was covered from Charleston to Kansas City. "For many of these families, this modest assistance is providing a lifeline to those who are struggling to find work, or are working at jobs that do not pay them enough to put food on the table," stated Ted Boettner in the coverage.
Ted Going to North Dakota
Two weeks from now Senate President Jeff Kessler is taking a coalition of legislators to North Dakota to learn more about that state's Legacy Fund. For the past two years, Senator Kessler has introduced legislation to create a similar plan for West Virginia, called the Future Fund. WVCBP Executive Director Ted Boettner will accompany the group, along with state leaders and policymakers.
Empowering Fathers and Families
On Friday, September 6, KISRA will host the 2013 Strengthening Families in West Virginia Conference at the Charleston Town Center Marriott, Lee Street, Charleston. The theme of the conference is "Empowering Fathers and Families for the Future." Twenty-seven workshops are planned with top-notch local and national presenters. There will be a breakfast plenary with updates on KISRA's WV Pathways to Responsible Fatherhood Initiative (WVPRFI). The special luncheon keynote speaker will be New York Times best-selling author and Chef Jeff Henderson. For more information, please visit the conference website.