General Revenue collections for July totaled $335,328,456, exceeding the monthly estimate of $330,381,000 by $4,947,456. Total year to date General Revenue collections are $335,328,456. Personal Income Tax (PIT) collections for July totaled $142,892,766, Below the monthly estimate of $151,800,000 by $8,907,234. Total year to date Personal Income Tax collections are $142,892,766.
Severance Tax collections for July totaled $3,127,470, Below the monthly estimate of $4,400,000 by $1,272,530. Total year to date Severance Tax collections are $3,127,470. Consumer Sales and Use Tax collections for July totaled $92,694,147, Below the monthly estimate of $94,700,000 by $2,005,853. Total year to date Consumer Sales and Use Tax collections are $92,694,147.
Although the State’s revenues were below estimates at the start of the fiscal year, Revenue Secretary Larry Pack was not surprised. Pack stated in an interview on Metro News Talkline, “Businesses kind of slow down a little bit but we also have a lot of state laws that require taxpayers to pay a lot of their revenues in June, so ultimately some of the payments that come in during July are lower.” Governor Justice still wants to see an increase in personal tax reduction, but Pack assures that numbers will be checked to answer any questions from the Legislature.
Governor Justice stated that eliminating the personal income tax is the key factor to population growth. Job opportunities, lower cost of living, and better housing are other contributing factors for population growth. West Virginia housing ownership percentage is the highest in the nation, and the favorable cost of living is in the top ten. Over the last two years, West Viriginia has shown a positive net migration rate, but the state’s birthrate is far below the number of people dying. Remote work, outdoor recreation, more space, and growth in economic development show that the Mountain State is moving in the right direction.
I will be traveling this week to attend the Highlands Creative Economic Tourism Summit to learn more about tools and resources for tourism organizations, and to network with industry peers. In addition to the summit, I have meetings scheduled. The weeks leading up to the start of school will be full. Interim meetings are scheduled for August 25th through the 27th with a possible special session during that time.
Congratulations to the organizers of the Braxton County Fair for a fun and exciting time for friends, family, and neighbors to spend some time together. I know it is a time that many look forward to and enjoy. Thank you for all your hard work.
On a personal note, on August 4th Will and I celebrated 34 years of marriage. Through every joy and challenge, we have grown stronger, and I am ever thankful for a life filled with faith, love, laughter, and memories. Our journey has been an adventure, and I hope we have many more years together.
“A happy marriage is a long conversation which always seems too short.”
(André Maurois)
I look forward to hearing from people in the district and hope to see you out and about enjoying all the great things our area has to offer. I can be contacted at [email protected] or 304-701-8600.
Devoted to Braxton County, West Virginia
