Tuesday in Columbia, Governor Mark Sanford will announce a plan to cut income taxes in South Carolina. Slashing state income taxes was the centerpiece as Governor Sanford gave his State of the State address last month. In his speech, he said South Carolina is losing jobs and the economy is suffering. "Our income tax is effectively the highest in the entire southeast, and that's rough on families, retirees and working folks," said Sanford.

State Representative John Graham Altman supports the plan to cut income taxes. "We've got a proposal now we think will reduce, over time, personal income tax in this state by about a third," Altman says.

In the Governor's State of the State address he suggested a cigarette tax to supplement the loss, but as of late Monday, the Governor's office was keeping quiet about the specifics of the plan.