News Releases
Economic diversification trust fund would protect state from downturns in severance tax revenue
January 30, 2012 -- As the Marcellus “Gold Rush” comes to West Virginia, it is time for policymakers to consider establishing a permanent mineral trust fund in West Virginia, similar to what six other states have done. So concludes the West Virginia Center on Budget and Policy in its report released today, “Creating an Economic Diversification Fund: Turning Nonrenewable Natural Resources into Sustainable Wealth for West Virginia.” The report highlights the benefits that such funds have brought to other states and how one could benefit West Virginia. Read
West Virginia ranks 29th among the states--
Report: States lack sound, consistent policies to enforce
job-creation and other performance requirements in economic
development subsidy programs
January 18, 2012 -- Despite the fact that many economic development deals fall short on job creation or other benefits, states are highly inconsistent in how they monitor, verify and enforce the terms of job subsidies that cost taxpayers billions of dollars per year. Many states fail to even verify that companies receiving subsidies are meeting their job-creation and other commitments, and many more have weak penalty policies for addressing non-compliance. Read
West Virginia has five workers for each job opening
December 20, 2011 -- While West Virginia’s unemployment rate fell below eight percent for the first time in two and a half years, the state has available workers but not the jobs to meet demand for employment. “The recession created a large job shortage that is keeping West Virginia’s unemployment rate stubbornly high. Right now there are five unemployed workers for each job opening in the state,” said Sean O’Leary, policy analyst with the West Virginia Center on Budget and Policy. Read
West Virginia scores a D+ in national report on economic development subsidies
December 14, 2011--States are spending billions of dollars per year on corporate tax credits, cash grants and other economic development subsidies that often require little if any job creation and lack wage and benefit standards covering workers at subsidized companies. West Virginia scored just 39 out of 100 for a grade of D+. Read
New report highlights importance and potential of state severance
tax
Severance tax rates not linked to production
December 13, 2011 -- As West Virginia policymakers consider legislation to regulate the state’s next big energy boom, a new report by the West Virginia Center on Budget and Policy finds that strengthening the severance tax would help the state take advantage of its natural resource wealth. Read
Poverty remains high as effects of recession linger in West Virginia
326,507 West Virginians lived in poverty in 2010
September 22, 2011 -- In addition to the high unemployment that has plagued West Virginia since the end of the recession, today’s release of the full 2010 American Community Survey from the U.S. Census Bureau shows that hundreds of thousands of West Virginians continued to live in poverty throughout the state. The data, which includes statistics on poverty, income, and health insurance, confirms both the severity of the recession, and the weakness of the subsequent recovery. Read
New census data on West Virginia: Poverty rate remains high, number of uninsured decreased due to government programs
September 13, 2011 -- The recession may have ended officially in 2009, but many West Virginia families continue to struggle in its wake. According to Census Bureau data released September 13, 2011, the percentage of West Virginians living in poverty rose from 14.6 percent (two-year average for 2007 and 2008) to 16.4 percent (two-year average for 2009 and 2010). Approximately one in five children in West Virginia lives in poverty. On September 22, the Census Bureau will release more definitive, one-year data for 2010 as part of the larger American Community Survey. Read
State of Working West Virginia 2011: West Virginia’s jobs deficit and high unemployment rate give workers little to celebrate this Labor Day
September 2, 2011 -- As Labor Day weekend 2011 kicks‐off, a new report by the West Virginia Center on Budget and Policy shows that working families are unlikely to recover soon without rigorous policy action at the federal and state level. In the State of Working West Virginia 2011, the Center ‘s analysis shows that while the state has fared better than its neighbor states throughout the recession, a healthy economic recovery remains elusive because of the high number of unemployed workers and a lost decade of job growth. Read
New Report Explores Impact of West Virginia's Energy Economy
Energy Trust Fund Can Help Communities
July 21, 2011 -- As policymakers debate regulating Marcellus Shale gas drilling, the state needs to protect itself from the booms and busts of energy development that have left many counties with undiversified economies, a less educated workforce and poorer health outcomes. This is according to a new report by the West Virginia Center on Budget and Policy, “Booms and Busts: The Impact of West Virginia’s Energy Economy”, that looks at the impacts of the cyclical nature of the energy sector on the state’s economy and mining counties. Read
New website tracts West Virginia's expenditures across multiple agencies
May 23, 2011 -- The West Virginia Center on Budget and Policy has a launched a new website with a centralized, searchable database of state spending. Sunshine West Virginia, available at www.wvpolicy.org and www.sunshinewv.org, is designed to give citizens, policymakers, and the media a more streamlined way to look up costs for services and programs. Read
New guide offers help in understanding property taxes
April 28, 2011 -- If you own a home, car, farm or business, you are familiar with paying property taxes. They impact just about everyone’s life but are perhaps the least understood form of raising revenue. The West Virginia Center on Budget and Policy is releasing a guide today entitled “Property Taxes: A West Virginia Primer” to help taxpayers understand how property taxes work. These taxes fund important public services at the state, county and municipality level and finance the state’s school districts. Read
West Virginia's public employees are compensated less than private sector employees
April 26, 2011 -- As governors and legislators across the country try to cut spending and rein in budget deficits, they are targeting the compensation of public sector workers. To justify cuts to wages and benefit packages, the argument is that public sector workers have it better than their private sector counterparts. What is the situation in West Virginia? Read
Road to Recovery: Recession Slow to Impact West Virginia, State Still in Recovery
February 25, 2011 -- West Virginia’s economic recovery from the Great Recession is far from complete. In 2010, the state suffered its highest unemployment rate in 16 years and the prospects of finding gainful employment were among the lowest in the nation. Read
Room for Improvement in Acting Governor’s FY 2012 Budget
February 3, 2011 -- A report released today by the West Virginia Center on Budget and Policy provides an overview of the state’s budget, describes the proposed major changes, and looks at budgetary trends. It also offers solutions to ensure that the state continues to provide the public investments needed to help its citizens prosper. Read
OPEB liability manageable, not a "crisis"
Report identifies ways lawmakers can respond judiciously
January 10, 2011 -- The issue of retiree health care for public employees, or Other Post Employment Benefits (OPEB), is likely to top the policy agenda as the West Virginia Legislature convenes next week. While many feel the OPEB liability is a “crisis,” a report released today by the West Virgina Center on Budget and Policy shows that the liability is manageable and that overreacting could threaten the economic security of public employees and damage the state’s ability to make important investments. Read
Unemployment Rate Means Fewer People Receiving Health Coverage
November 16, 2010 -- While employer sponsored health insurance (ESI) remains the most common way workers obtain coverage, millions have lost this coverage over the past decade. Public insurance kept millions more from becoming uninsured as job-based coverage has declined. In West Virginia nearly 45,000 people under the age of 65 have lost ESI since 2000. Read
Criticism of Coal Report Unfounded, Coal Costs State Billions
November 15, 2010 -- The West Virginia Center on Budget and Policy and Downstream Strategies respond to criticisms of their report, "The Imact of Coal on the West Virginia State Budget." Read
Eliminating Business Personal Property Tax Would Hurt Education Funding
October 22, 2010 -- In 2010, the West Virginia House of Delegates and the WV Tax Modernization Working Group endorsed allowing counties to exempt business personal property from property tax rolls. A recent analysis by the West Virginia Center on Budget and Policy shows that such an exemption would reduce much-needed funding of our education system, put a financial strain on our county and city governments and could lead to a tax shift to homeowners and other in-state businesses. Read
Recent Federal Actions Saved Thousands of West Virginia Jobs
Two federal programs, the Troubled Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA), have likely saved 56,000 West Virginia jobs and prevented a high unemployment rate from escalating further. Read
Recession pushed more West Virginians into poverty --
Over 310,000 lived in poverty in 2009, census data show
September 28, 2010 -- On September 28, 2010, the U.S. Census Bureau released the full 2009 American Community Survey that included statistics on poverty, income, and health insurance. The national recession and steep job losses that hit in 2009 pushed thousands of West Virginians into poverty throughout the state. Read
Recession will push more West Virginians into poverty --
More accurate poverty data to be released on September 28th
September 16, 2010 -- Data released today by the Census Bureau show the continued impact of the recession on families throughout the country. According to the Current Population Survey (CPS), the official national poverty rate grew from 13.2 percent to 14.3 percent in 2009. In other words, approximately 3.8 million more Americans fell into poverty during last year. Read
$136 million for state budget at stake in house vote
August 9, 2010 -- West Virginia stands to lose a significant amount of fiscal relief if legislation that the Senate approved last week, and the House is due to take up tomorrow, fails to become law. The legislation which would provide $136 million to West Virginia, including $81 million in Medicaid funds and $55 million in education funds. Read
Coal industry costs state taxpayers millions in 2009
June 23, 2010 -- While coal contributes millions each year to West Virginia’s economy while providing tens of thousands of jobs, the industry costs the state more than it provides due to taxpayer subsidy of road repair and other costs, according to a new report released today by the WV Center on Budget and Policy, Downstream Strategies and the Sierra Club. Read
West Virginia elders living on the edge
June 2, 2010 -- How much do West Virginia seniors need to make ends meet? How do public support programs – food, prescription drugs, utility and housing assistance – help seniors meet their rising expenses? These questions and more were addressed today by the West Virginia Center on Budget and Policy and the West Virginia Long Term Care Partnership in collaboration with Wider Opportunities for Women (WOW) and the Gerontology Institute at the University of Massachusetts Boston at the official launch of the West Virginia Elder Economic Security Initiative. Read
Massey pays one-sixth of 35% federal tax rate, little in state income tax
April 15, 2010 -- A new analysis shows that Massey Energy, which owned the Upper Big Branch mine where 29 West Virginia miners were killed last week, paid an average of 5.6 percent of its profits in federal income taxes over the last three years—despite having large profits in each year. This is less than one-sixth of the statutory federal corporate income tax rate of 35 percent. Read
Tax freedom day ignores what taxes pay for
April 7, 2010 -- As the Tax Foundation lauds its national “Tax Freedom Day” on April 9, other tax groups question the validity of the foundation’s research and say the report ignores the goods and services taxpayers get for their money – schools, roads, health programs and public safety, to name a few. Read news release
State tax credit would benefit working families
February 17, 2010 -- A state version of the federal Earned Income Tax Credit would bolster the economic security of working families, according to a new report released fEBRUARY 17 by the West Virginia Center on Budget and Policy and the Alliance for Sustainable Families. The state credit would impact an estimated 90,000 working families who struggle to make ends meet. Read
Racial inequality persists in the Mountain State; groups propose solutions
February 16, 2010 -- African Americans in West Virginia continue to earn less money, have higher rates of poverty, and be less likely to own a home or have health insurance than whites, according to a report released today at the State Capitol. These disparities persist despite substantial gains in education and civil rights made by African Americans over the past century. Read
New report looks at impact of the great recession on West Virginia workers and families
December 21, 2009 -- After dodging the early months of the national recession, West Virginia workers experienced its full force during 2009, according to a new report by the West Virginia Center on Budget and Policy. In addition to information on how workers are faring in the Mountain State, the report outlines policy options that would further economic recovery. Read
Census data indicates no economic progress: West Virginia continues to rank close to bottom on most indicators
October 1, 2009 -- The Census Bureau released the full American Community Survey this week, which includes detailed data on poverty, income, and health insurance coverage. The Mountain State showed little progress in these areas and continues to rank near the bottom on most key indicators. Read
West Virginia Is recognized for commitment to children’s health programs
September 15, 2009 -- West Virginia was recognized for its strong commitment to children’s health coverage despite a tough economic climate, according to a report released today by the Georgetown University Center for Children and Families (CCF). Read
West Virginia’s poverty rate likely higher due to recession;
more accurate census data to be released on September 22
September 9, 2009 -- Roughly 15 percent of West Virginians were in poverty in 2008, according to Census Bureau data released today. The number of people in poverty remained statistically unchanged using a three-year average from 2006 – 2008 in West Virginia and increased modestly by .04 percent nationally. Read
Sharp increases predicted in poverty due to recession
September 9, 2009 -- One in four West Virginians is expected to fall into poverty during the current recession, according to a new report by the WV Center on Budget and Policy. The number of state children living in poverty is predicted to increase by more than a third. Read
New report provides behind-the-scenes look at West Virginia state budget
September 3, 2009 -- People who wonder where their tax dollars go can find the answers they’re looking for in a new report by the West Virginia Center on Budget and Policy. “Paying for Priorities” provides a behind-the-scenes look at how this year’s state budget was developed, where the revenues are expected to come from, and how the funds will be allocated among state agencies and programs. Read
Refund anticipation loans cost working West Virginians nearly $13 million
August 25, 2009 -- Working West Virginians with modest incomes lost nearly $13 million of their 2006 federal income tax refunds to tax preparers who promised them “fast cash." Refund Anticipation Loans (RALs) provide high-interest credit or cash advances to tax filers based on their expected refunds and are marketed to those who need money quickly during tax season. Read
Policy change would extend unemployment benefits for jobless West Virginians
August 4, 2009 -- More than 6,100 jobless workers in West Virginia will run out of unemployment benefits by the end of 2009. West Virginia could provide additional help to these workers under provisions of the American Recovery and Reinvestment Act. States with high unemployment rates may provide up to 20 more weeks of Extended Benefits, fully paid by the federal government. Read
West Virginia ranked 4th in nation for Recovery Act website
August 3, 2009 -- West Virginia's Recovery Act website was ranked fourth best in the nation in a new report by Good Jobs First, a non-profit research center in Washington, DC. The site tracks the nearly $1.8 billion being funneled into the Mountain State through the American Recovery and Reinvestment Act. Read
New minimum wage boosts wages for 95,000 workers in West Virginia
July 23, 2009 -- About 12.5 percent of West Virginia’s workforce will benefit from an increase in the federal minimum wage from $6.55 to $7.25 per hour on July 24, 2009. Of the 95,000 workers impacted by the wage hike, 63,000 will be directly affected by the increase and 32,000 workers will see an increase due to “spillover effects.” This is according to recent analysis conducted by the Economic Policy Institute in Washington, D.C. and released by the West Virginia Center on Budget and Policy (WV CBP). Read
How do counties tax West Virginia’s richest natural resource? A new guide shows us how
May 21, 2009 -- Morgantown-based Downstream Strategies, in collaboration with the West Virginia Center on Budget and Policy, demystifies the complicated tax in a new publication released this month. “Taxing West Virginia’s Coal Reserves: A Primer” describes the history and current methods of taxing one of the state’s most valuable resources. Read PDF
Unions boost pay for service workers in West Virginia
May 14, 2009 -- While the majority of West Virginia workers have seen their wages decline or stagnate over the last couple of decades, a new study released today shows that belonging to a union can boost pay for service-sector employees in West Virginia. Read PDF
New report challenges state budget cuts, offers alternatives
March 25, 2009 -- Slashing the state budget during a recession is unwise and unnecessary, according to a new report released today by the West Virginia Center on Budget and Policy. Governor Manchin’s proposal to cut nearly $200 million in spending from next year’s budget would jeopardize the state’s economic recovery and hurt those most affected by the recession. Read
New report examines West Virginia business subsidies
February 8, 2009 -- State-financed business subsidies don’t receive enough public scrutiny, according to a new report by the West Virginia Center on Budget and Policy. The state provides millions of dollars in tax credits and low-interest loans to private companies each year in hopes of creating good-paying jobs. Yet little is known – and even less is published – about the outcomes of these public investments. Read PDF
Reduction in estate tax will hurt West Virginia
December 13, 2008 -- West Virginia is missing an opportunity to invest in its people and make its tax system more fair for a majority of families. Because West Virginia is linked to the federal reduction of the estate tax, state lawmakers are allowing a tax cut that benefits only those families wealthy enough to pass on large fortunes to their children. Read | PDF HTML
Unions Boost pay for women workers in West Virginia
December 2, 2008 -- Unionized women workers are significantly better off than non-union women in terms of wages, health insurance and pensions, according to a new report released jointly by the Center for Economic and Policy Research (CEPR) in Washington, DC, and the West Virginia Center on Budget and Policy in Charleston. Read | HTML PDF
New report examines working West Virginians in a changing economy
In the midst of the nation’s economic struggle, there are some hopeful signs for West Virginia, according to a recent report by the West Virginia Center on Budget and Policy. The report, “The State of Working West Virginia,” is the first in recent years to provide such a comprehensive and in-depth analysis of workforce trends and issues. Read | HTML PDF
Unions boost pay for young workers in West Virginia -- unionized young workers earn $4 more per hour than non-union workers
October 16, 2008 -- Union membership raises the wages of West Virginia young workers by almost $4 an hour. After adjusting for inflation, the wage of the typical unionized 18-to-29 year-old worker in West Virginia was $14.12 while a non-union young worker earned just $10.21 in 2007, according to a new study released jointly by the Center for Economic and Policy Research (CEPR) in Washington, DC, and the West Virginia Center on Budget and Policy in Charleston. Read | PDF
Census numbers indicate progress on poverty, income and number of uninsured -- Despite progress, West Virginia still ranks poorly in poverty and income
August 26, 2008 -- On August 25, 2008 the U.S. Census Bureau released
2007 data on poverty, income and health insurance. While the 2007 numbers
show improvements in the overall economic conditions of low and middle-income
West Virginians, the Mountain State still ranks in the bottom on many
key indicators.
Read PDF |
HTML
China trade gap causes thousands of lost jobs in West Virginia
July 30, 2008 -- West Virginia lost 7,200 jobs in a variety of industries between 2001 and 2007 due to the United States’ growing trade deficit with China, according to a report released jointly today by the Economic Policy Institute (EPI) and the West Virginia Center on Budget and Policy. Close to half of the jobs lost in West Virginia came from the state’s manufacturing sector, which included hundreds of lost employment opportunities for West Virginians to produce products such as textiles, wood, chemicals and metals. “Manufacturing is a vital piece our state’s economy,” said Ted Boettner, the Executive Director of the West Virginia Center on Budget and Policy. “It supports thousands of West Virginia families and employs a higher share of workers without a college degree than the rest of the economy.” Read | HTML | PDF
Union membership boosts pay for workers in West Virginia: Belonging to a union raises wages for workers by 11 percent and low-wage workers by 16 percent, study finds
May 15, 2008 -- Charleston, WV -- Union membership raises the wages
of West Virginia workers by 11.1 percent on average. For low-wage workers
union membership increases earnings even higher, an estimated 15.8 percent
more than non-union workers, according to a new study released jointly
by the Center for Economic and Policy
Research (CEPR) in Washington, DC, and the
West Virginia Center on Budget and
Policy in Charleston...
Read | HTML /
PDF
West Virginia's wealthiest soaring above the rest: Incomes of richest five percent 12 times greater than low-income families
April 14, 2008. Charleston, WV — The income gap that separates West Virginia’s wealthiest families from the rest of the state’s households has widened dramatically over the past two decades, according to a study released today. Over the past two decades the incomes of West Virginia wealthiest families – top 5 percent - grew much faster than middle and low-income families in the mountain state. From the late 1980s to the mid-2000s, the average income of families in the top five percent is 11.9 times as large as the poorest 20 percent of families and 4 times more than middle-income ones. The growth in income inequality between the richest 20 percent of families and the poorest 20 percent is the 12th largest in the nation... | Read HTML / PDF
Corporate tax cuts could cost state over $1 billion
March 3, 2008. Charleston, WV — The West Virginia Center on Budget and Policy (WV CBP) today released High Costs, Dubious Benefits: The Fiscal Impact of SB 465 and SB 680, an analysis of how recent tax changes and new proposed business tax cuts will lead to either cuts in government services or require tax increases in the near future. The report shows... | Read
West Virginia on verge of losing millions
February 8, 2008. Charleston, WV -- West Virginia stands to lose between $28 and $74 million in state tax revenue due to the economic stimulus plan passed Congress last night... | Read
Economic stimulus package could cost state $74 million
January 29, 2008. Last Friday the White House and House leaders reached a tentative deal on a $150 billion economic stimulus package (one percent of the GDP) that could drastically reduce state revenues. | Read