CHARLESTON, WV (WOWK) — During Gov. Jim Justice’s press conference on Wednesday, the Governor announced revenue collections for the Fiscal Year 2022 finished at $1.308 billion overestimate.

Justice says this is the largest single-year revenue surplus in West Virginia ever recorded.

He says this is a result of West Virginia’s economy and the state’s budget over the past several years.

During the press conference, Justice also announced he is proposing a 10% personal income tax reduction for West Virginia.

“I’ve said over and over that my number one job as Governor is to ensure the economic success of our state and I’m beyond proud to say that we’re succeeding in a big way,” Justice says.