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Lawmakers in West Virginia delivered on one of Gov. Jim Justice's signature initiatives in the 2024 legislative session, as part of the budget bill passed on the final day included a phase out of the state income tax for all those who earn Social Security benefits.
The measure continues action first taken in 2019, as the Legislature then eliminated the income tax on SSI for those joint filers making less than $100,000 annually, and single filers at $50,000 or less. But that still left West Virginia as one of only 12 states to tax Social Security.
Under the language included and approved in this year's budget, the tax on Social Security for everyone else will be eliminated, with 35% being cut this year, retroactive to Jan. 1, and 65% to be cut in 2025.
The tax on Social Security would be eliminated entirely in 2026.
The measure impacts 50,000 households in West Virginia, Justice said.
This is an important measure for seniors in our region, and was championed not only by Justice but also AARP-West Virginia.
"For far too long, West Virginia has been an outlier in its tax treatment of Social Security income," AARP West Virginia State Director Gaylene Miller said. "Thousands of older West Virginians engaged with lawmakers through our grassroots advocacy efforts, and it made all the difference in achieving meaningful tax relief for West Virginia retirees."
The tax cut continues what has been a successful two-year run of putting more money back into West Virginian's pockets. Lawmakers made the right call to get this one across the finish line.