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West Virginia seeks a 10% income tax cut, citing $6.5B in new investments and 7,000 jobs.
West Virginia Governor Patrick Morrisey, joined by Grover Norquist, is pushing for a 10% state income tax cut, citing nearly $6.5 billion in new private investments since October that have created over 7,000 jobs in energy, manufacturing, and infrastructure.
The state has already achieved a 5% tax reduction through spending cuts and efficiency gains, with officials aiming to close the remaining gap through legislative action and deregulation.
Major projects include a $2.5 billion natural gas power plant and a $1.2 billion gas-fired plant.
Norquist highlighted growing momentum among states to eliminate income taxes, arguing lower taxes attract investment.
Business leaders support the plan, saying it would enable hiring and expansion.
West Virginia busca una reducción del 10% en el impuesto a la renta, citando $6.5B en nuevas inversiones y 7,000 empleos.