WVU Expert: Savings important to state’s long-term economic growth
Many energy-producing states around the country, including West Virginia, are in budget trouble as revenues from extractive industries are sinking. Lawmakers in Charleston are debating which tax reforms will plug a $600 million hole, including eliminating the personal income tax and increasing the consumer sales and service tax. West Virginia University Bureau of Business and Economic Research Director John Deskins explains the economic distinctions in the effects of those two types of taxation.