Elimination of food tax a credit to W.Va.
Today, West Virginia's food tax will drop from 3 percent to 2 percent, putting much-needed money back into the pockets of Mountain Staters.
The move, initiated by Senate Bill 1001, will reduce the tax another percentage point come July 1, and eliminate the tax altogether by Dec. 31 as long as the percentage of the general revenue budget in the Rainy Day Fund is at least 12.5 percent.
Overall, this will translate into at least a $48 savings for every West Virginian each year.
That may not seem like much, but in today's sluggish economy, every dollar - indeed, every penny - counts.
Read more about Governor Tomblin's food tax cut here.