(Columbia-AP) April 6, 2004 -- Plans to cut
property and income taxes didn't get rave
reviews from the Senate Finance Committee on
Tuesday.
There was an abundance of skepticism for
Governor Mark Sanford's House-passed plan to
reduce the state's top income tax rate. The
committee also had reservations about a bill
from Fountain Inn Senator David Thomas that
increases the state's tax to pay for eliminating
property taxes on homes and cars.
Tom Davis, Sanford's co-chief of staff, told
the panel that lowering the top income tax rate
from 7% to 4.75% over the next decade
would spur economic growth.
The bills now head to a subcommittee where
senators will decide their fate. Senator Thomas
Alexander says it's going to be difficult to get
a consensus.
Posted 10:32pm by BrettWitt
Ken
Aucoin's morning forecast
(9/20)
