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Passing Amendment 2 Right Idea for W.Va.

Having West Virginia’s Constitution cluttered with specifics on how and what can be taxed is the wrong way to enhance our state’s fortunes. Voters on Nov. 8 can change that through passage of Amendment 2, the “Property Tax Modernization Act.” We endorse its passage with this proviso — that legislators use the opportunity to begin a broader discussion on creating a modern tax system in West Virginia, one that gives more control to cities and counties on how to raise revenue instead of the current, one-size-fits-all approach coming from Charleston.

The amendment, if passed, would give lawmakers the authority to repeal the tax on tangible personal property and also would allow for the repeal of the tax on business machinery, equipment, and inventory. This tax is one that state business leaders have cited over the years as a hindrance to growth.

The time to repeal these taxes is now. State lawmakers, for the past five years, have held the line on spending. This, coupled with federal COVID-19 aid, has resulted in budget surpluses in the billions of dollars. As House Speaker Roger Hanshaw noted, passage of Amendment 2 would give lawmakers the chance to re-imagine how and what is taxed in West Virginia, and create a fair and equitable tax system.

For those who question funding of schools and counties, the Legislature has a legal requirement to fund schools, and legislative leaders have made assurances cities, counties and school systems would remain financially whole with passage of Amendment 2.

We understand the concerns some have with granting what seems to be more control to the Legislature. That’s why lawmakers must, if given the opportunity, use Amendment 2’s passage as the first step toward modernizing the state’s tax system. That should include a real discussion over Gov. Jim Justice’s proposal to lower the personal income tax. Let’s be clear: Justice is correct that if we want to grow our population, we must lower our income tax rates. West Virginia has higher income tax rates than Ohio and Pennsylvania for anyone earning more than $10,000 annually. Reducing the burden on income would be a meaningful step toward attracting new residents.

West Virginia has a long history of doing the same things over and over again and expecting different results. Passage of Amendment 2 could break that cycle and finally move the state forward.

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