Tax & Budgets
A Tale of Two Budgets: Lessons from New York and West Virginia
April 27, 2021 | Ryan Maness
New York and West Virginia engaged in historic tax reform debates this year that not only have significant short-term fiscal implications, but could mark a sea change in the state legislative landscape. New York progressives were able to overcome Governor Cuomo’s traditionally firm hold on the budget process to pass new taxes on upper-income individuals and businesses. In an era where the Democratic party is getting ever bluer, the actions of the legislature could presage what other progressive lawmakers might do if given the chance. In West Virginia, Governor Jim Justice was committed to eliminating the personal income tax and decided to pay for it with new taxes on businesses. While he is a singular political figure, it’s notable from the Republican governor of a conservative state to not only push for this, but to gain the support of the upper house of the legislature.