Tag: Surplus Dollars

How Surplus Dollars Could Spur Economic Development, Fight Poverty

Large budget surpluses, in recent years, have encouraged what to do with that money. One thought is to use a large portion of it for economic development projects — enticing companies to set up shop in West Virginia. Another school of thought is to invest that money in poverty programs and to bring the poorest West Virginians up. Reporter Chris Schulz spoke with Mitch Carmichael, the Secretary of the West Virginia Department of Economic Development, and Rev. Matthew Watts from the Tuesday Morning Group, about possibilities.

On this episode of The Legislature Today, there’s a House bill pending that would divert the lion’s share of $500 million federal COVID-19 relief dollars from general economic development to specific and local poverty fighting projects. Government Reporter Randy Yohe has the story.

Large budget surpluses, in recent years, have encouraged what to do with that money. One thought is to use a large portion of it for economic development projects — enticing companies to set up shop in West Virginia. Another school of thought is to invest that money in poverty programs and to bring the poorest West Virginians up.

Reporter Chris Schulz spoke with Mitch Carmichael, the Secretary of the West Virginia Department of Economic Development, and Rev. Matthew Watts from the Tuesday Morning Group, about possibilities.

Also, the Senate passed several bills Wednesday morning to address issues surrounding child protective and social services in the state. Chris Schulz has more.

The first of two bills aimed at restructuring the West Virginia Department of Health and Human Resources completed legislative activity.

Finally, thoughts that Senate, House and executive branch leadership were working toward a tax reform compromise got a shake up on the House floor.

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The Legislature Today is West Virginia’s only television/radio simulcast devoted to covering the state’s 60-day regular legislative session.

Watch or listen to new episodes Monday through Friday at 6 p.m. on West Virginia Public Broadcasting.

W.Va. Medicaid and Rainy Day Fund Gets Boost from Revenue Surplus

Nearly $37 million in general revenue surplus money will be given to West Virginia’s Medicaid program as well as the state’s Rainy Day emergency reserve fund.

Gov. Jim Justice made the announcement in a press release this week. The nearly $37 million will be divided in half – about $18 million for Medicaid and the other $18 million will go to the Rainy Day Fund.

Justice said this past year West Virginia has brought in “hundreds of millions of dollars more than we ever dreamed of,” and he said he’s proud to be using it to support and secure a “better future” for West Virginians.

The official surplus for Fiscal Year 2019 totaled $511 million above original budget estimates.

West Virginia Department of Revenue Secretary Dave Hardy said the accomplishment marks 2019 as the single greatest year of revenue growth in West Virginia’s history.

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