Senators agree to
plan moving Sanford's income tax plan forward
Associated
Press
COLUMBIA, S.C. - Gov. Mark Sanford's plans to
reduce the state's income tax won key support from Republican
senators Thursday, but critics have said it benefits the top half of
the state's income ladder.
Two dozen of the Senate's 27 GOP members endorsed putting the
Senate's version of the income tax reduction measure onto a bill
that cleared the House on Wednesday.
The House heavily amended the bill with a variety of tax measures
Wednesday, but the Senate will take everything out and insert just
the Senate's income tax plan.
That action could come Tuesday, Sen. John Hawkins, R-Spartanburg
said.
"I just want to say a big thank you. Period. Exclamation point,"
Sanford said.
The proposal moves the state's top income tax rate to 4.75
percent from 7 percent over several years. No break would be
implemented in years when the state's revenues don't grow by 4
percent or more.
Sanford said the bill is critical for job creation in South
Carolina. |