By GEORGE HOHMANN For The West Virginia Press Association CHARLESTON, W.Va. — West Virginia Revenue Secretary Bob Kiss said the state budget that begins July 1 is projected to have a $195 million gap. Gov. Earl Ray Tomblin plans to close the gap with targeted reductions and a withdrawal from the state’s Rainy Day Funds, he said.Kiss was one of more than a dozen leaders who spoke Monday at the West Virginia Associated Press Legislative Lookahead in Charleston.The state has been experiencing flat revenues during the past few years because of falling energy prices and lower coal demand; weak wage growth; a 2013 federal payroll tax increase; and turmoil in the federal government and health care sectors, Kiss said. He also pointed out that the state has reduced taxes by $425 million over the last decade, including business tax reductions and a phase-out of the sales tax on food. Read more at wvpress.org/?p=13836
Posted on: Tue, 13 Jan 2015 18:37:08 +0000
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