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Future Fund Bill Is Altered

Delegates make big changes to Kessler’s signature proposal

March 7, 2014

WHEELING — The House Finance Committee on Wednesday approved Senate President Jeff Kessler’s West Virginia Future Fund proposal, but not before making several significant changes that would bring......

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Mar-07-14 8:57 PM

An excellent point made by Kessler. History does teach lessons. Gas may eclipse coal in the coming years.

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Mar-07-14 5:29 PM

The states, and the federal government, should make it a priority to accumulate neither deficits/debts nor surpluses/excess funds.

A coal fund would NEVER have reached $8 billion with Democrats in charge.

And why are Alaska and North Dakota raking in the funds? A) Because they have oil, not natural gas. B) Because they have had conservative-libertarian leadership. C)Because they have both had relatively limited state bureaucracies. D) Because both are chock full of people who believe in self-reliance, hard work and frugality.

West Virginia fits none of those descriptions, thus, there will be no significant future fund.

If there WAS an $8 billion in a fund someplace (it will never happen), 90% of that should be immediately returned to tax PAYERS in the form of refunds or future tax reductions.

North Dakota might even phase out property taxes! Will that ever happen in tax happy Almost Heaven? NOT!

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Mar-07-14 11:05 AM

Ct your northern deligate is making life easy for the dixiecrats!

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Mar-07-14 10:08 AM

You have to be very careful when dealing with anything related to state government in West Virginia. It is largely dominated by pork oriented southern politicos who will pour as much as possible into the economic black hole that is southern West Virginia, even though that is like putting it down the drain.

Education spending? This past year, every state supported higher education institution had to endure a 7.5% reduction in state appropriations, but at the same time Marshall U. was given a free handout of $25 million for an engineering complex that was neither needed nor logical. Our state already has 2 excellent engineering schools. The Cabell/Wayne counties senator is in charge of educational appropriations.

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Mar-07-14 8:40 AM

"...and limiting acceptable uses of the money to economic development projects, infrastructure and education enhancement."

"education enhancement"??? HMMMMMMMMM. I wonder what that means??? A perpetual funding source for teachers raises perhaps?? And this time they're trying to get it written into the state constitution.

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Mar-07-14 8:35 AM

"No money could be added to the Future Fund in years during which the state needs to dip into its rainy day fund or impose mid-year spending reductions or hiring freezes to avert a budget shortfall."

This vague language provides too many "outs" for politicians not to contribute to the fund and instead spend it on (fill in the blank)....

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Mar-07-14 7:25 AM

smart1, Sarah Palin had nothing to do with the Alaska fund that was "VOTED" on by the good peeps of Alaska in 1976. I doubt that Sarah was even old enough to vote in 1976. North Dakota also had a constitutional referendum on the issue. WV will shove it down our throat and let us vote (theoretically) on how it will be spent!

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Mar-07-14 6:52 AM

Sen Kessler took this great idea from Sarah Palin & Alaska! Wow!! He ought to be looking into Santa Gus and the Farmgate scandal!! Oh, on second thought I got a tomato patch in my bac yard! Maybe I can get a loan I don't have to pay back, buy a Mercedes & keep up with the attorney/Marshall county politicians!

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Mar-06-14 5:02 PM

"increase pay for teachers." That line is to get the D's some votes at the ballot box!

Question to the state legislature! If the money will be "extra" why not tax relief? You have any idea why business does not consider WV to set-up shop?

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