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Bob Wise on Tax ReformFormer Democratic Governor; previously Representative (WV-2) |
We will remove obstacles in state government to business start-ups. We will provide one-stop shopping -available 24 hours a day, seven days a week on the Internet - to entrepreneurs who want to do business in West Virginia. Most new businesses are started by people who already have a day job - and can’t afford to take time off to stand in lines at state offices.
I am also ordering a review of the state’s regulatory rules and practices. Regulation is important, and can be a shield against unfair practices - if it is effective, and if it is not burdensome.
We are writing to request equal treatment between states and the federal government on estate tax changes. Regardless of one’s view about phasing out the federal estate tax, the Governors are absolutely united in opposing any action that would discriminate against states in the phase-out of the state and federal estate taxes. This issue needs to be addressed before the Senate goes to conference with the House.
Governors believe that the ability of states to independently determine their own tax revenue policy is a basic tenet of federalism. Moreover, no federal tax bill should be enacted without close consultation with the states.
At the very least, there must be equity in the treatment of the state death tax credit in the tax bill the Congress considers with the proposed phase-out of the federal estate tax. Governors oppose provisions that impose disproportionate impacts on state revenue systems. The changes proposed by the Senate would have abrupt, significant adverse impacts on state revenues at a particularly onerous time for many states. The potential impact on states would begin next year and have a potential impact of between $50 and $100 billion over the next ten years.
We urge the leaders to respect those rights and to restore fairness.