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A state policy group says two proposed tax cuts being touted as economic boosts could sap state coffers of $531 million over the next 11 years.

When combined with previous business tax cuts, the West Virginia Center on Budget and Policy warns the new measures could force the state to cut services or raise other taxes to make up for the shortfall.

Both bills, which would reduce the business franchise tax and the corporate net income tax, were approved by the Senate and are now before the House Finance Committee.

Advocates of the bills from both parties say the revenue losses would be offset by increased economic activity and by a bill that closes tax loopholes through a procedure called combined reporting.

View a PDF copy of the full report

A state policy group says two proposed tax cuts being touted as economic boosts could sap state coffers of $531 million over the next 11 years.

When combined with previous business tax cuts, the West Virginia Center on Budget and Policy warns the new measures could force the state to cut services or raise other taxes to make up for the shortfall.

Both bills, which would reduce the business franchise tax and the corporate net income tax, were approved by the Senate and are now before the House Finance Committee.

Advocates of the bills from both parties say the revenue losses would be offset by increased economic activity and by a bill that closes tax loopholes through a procedure called combined reporting.