[vc_row animation=””][vc_column width=”1/2″]One week ago, West Virginia Governor Earl Ray Tomblin delivered his State of the State Address to highlight key pieces of legislation and what he identified as his top priorities. Everything from economic development to education is covered (you can read his full address here) including a section on what he calls fiscal responsibility.
[/vc_column][vc_column width=”1/2″][vc_single_image css_animation=”” image=”8471″ border_color=”” img_link_large=”” link=”https://wellsaidcabot.com/wp-content/uploads/2016/01/Gov-Tomblin.jpg” img_link_target=”_self” img_size=””][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]The Governor specifically indicates his desire to reduce West Virginia’s severance tax rates on the natural gas industry to “[provide] much-needed relief for energy businesses struggling with low prices.”
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]Given current market prices for natural gas and natural gas liquids, this move comes as it is most needed. With producers cutting back their budgets, the trickledown effect to supporting industries – environmental scientists, trucking, engineering firms – is being felt across the region and by the hundreds of thousands of people employed.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]Just three months ago, Governor Tomblin joined forces with Governor Wolf and Ohio Governor Kasich to promote an agreement to work together and maximize the opportunities in the region thanks to the shale development. One can only hope that Governors Wolf and Kasich, their administrations and other elected leaders are taking notice of Governor Tomblin’s efforts to continue the promotion of this industry.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]We’d like to throw a hat tip to the folks at United Shale Advocates for bringing this information to our attention.
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FISCAL RESPONSIBILITY
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Throughout his administration, Gov. Tomblin has made sure to enact and uphold fiscally responsible policies. He understands the state is experiencing significant budget challenges, but remains committed to making difficult choices now that will help ensure West Virginia has a bright future now and for years to come.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]Gov. Tomblin tonight introduced legislation to pay off West Virginia’s old workers’ compensation debt more than a decade ahead of schedule. This also will remove additional severance taxes on coal and natural gas industries earlier than anticipated, providing much-needed relief for energy businesses struggling with low prices.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]In helping to ensure West Virginia’s tax base is both stable and diverse, Gov. Tomblin tonight also proposed raising the state’s tobacco tax by 45 cents to a total of $1 a pack. This increase will not only help discourage West Virginians from smoking or using tobacco products, it will also provide $71.5 million annually to support health-related costs. $43 million of this revenue will help fund PEIA, ensuring public employees do not see the dramatic benefit reductions initially proposed.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]Gov. Tomblin also proposed legislation to eliminate a sale tax exemption that will bring our state’s telecommunications tax in line with 41 other states across the country. This legislation will place the same 6 percent sales tax on cell phone and phone line usage and generate $60 million annually.
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