West Virginia stands at a crossroads. We are now facing a natural gas boom similar to that of the coal industry in the last century.
But the experience of 100 years has taught us that shared prosperity and natural resources extraction don’t necessarily go hand in hand. Without a plan for the future, we are likely to continue to experience a lack of economic diversity, endless cycles of boom and bust, and poor economic outcomes.
Rather than repeat the past, we propose to move forward by creating the West Virginia Future Fund, similar to funds created by several other mineral-producing states. Sign the petition now!
The Future Fund will be created from a portion of natural resources severance taxes and will turn a one-time source of revenue into a permanent source of wealth for our state.
We propose that the principal of such a fund should be untouchable and allowed to grow.
It should be prudently invested and wisely managed so that the income gained will provide an ongoing stream of revenue to meet the challenges of the future and help build a more prosperous and secure economy. Sign the petition now!
Download the report “Creating an Economic Diversification Trust Fund” by the West Virginia Center on Budget & Policy here.