For Immediate Release
September 21, 2013
Contact: Brittni McGuire, 304-342-8121, Brittni@wvdemocrats.com
BREAKING: Bill Cole Flip-Flops On Tax Reform and Wastes State Dollars
Cole breaks promise to WV taxpayers
CHARLESTON, WV— After calling for a special legislative session to reform West Virginia’s tax code, creating the Joint Committee on Tax Reform, and using state money to study the issue, Senate President Bill Cole is now backing down on his tax reform promise.
Yesterday, the Register-Herald reported that Senator Cole has made a political calculation and concluded that the 2016 legislative session “may not be the year” for tax reform. Earlier this month, Cole came out in support of the Kansas tax scheme that led to massive deficits and tax hikes, calling the plan “spot on.”
From the Register-Herald: “Cole remains vague about the direction tax reform will take…” [Register-Herald, 9.20.2015]
“Not only is this a failure of leadership from Senate President Bill Cole, it’s a waste of taxpayer money,” said Brittni McGuire, a spokeswoman for the West Virginia Democratic Party. “This flip-flop just proves that Senator Cole will say anything to get elected. We already know Bill Cole wants to replicate the disastrous Kansas tax plan, he just doesn’t want to remind West Virginians before the the 2016 election. ”
Charleston Gazette-Mail: Cole Supported Laffer’s Budget Plan
On 9/03/15, the Charleston Gazette-Mail reported that Cole supported Laffer’s failed Kansas budget plan.
The Gazette-Mail stated, “Senate President Bill Cole, R-Mercer, a gubernatorial candidate, lauded Laffer’s ideas….” The Gazette-Mail then quoted Cole stating. “I think [Laffer’s] spot on. I think, virtually, everything he’s said has proven itself out in history.” [Charleston Gazette-Mail, 9/03/15]
Laffer Designed Kansas’ Tax Plan that Caused $600 Million Deficit
In 2015, the Atlantic reported that economist Arthur Laffer designed the Kansas tax plan that caused a $600 state deficit in Kansas.
According to the Atlantic, “[Gov.] Brownback, who had hired the economist Arthur Laffer to help craft his original tax plan, had been touting the state’s economic recovery to argue that his fiscal vision was starting to work. But a report released Friday found that Kansas had lost nearly 4,000 jobs in May, trailing both the national trend and neighboring Missouri, which added 6,600 jobs.”
The Atlantic further stated, “Just a few days after the November election, the Kansas budget office revealed that revenue projections were off by more than $200 million, bringing the budget gap facing Brownback to $600 million in all.” [The Atlantic, 4/09/15; 6/22/15]