COLUMBIA - A plan to cut the state's income tax quickly passed the House's budget writing committee Wednesday and could hit the House floor early next week.

The proposal would reduce the state's top income tax rate to 4.75 percent from the current 7 percent over a decade, starting with those who earn a taxable income of $12,650.

State economists expect the plan, which tops Gov. Mark Sanford's legislative agenda, would cost the state $959 million in tax revenue during the first 10 years.

By 2015, when the full cut would be realized, it would represent a 13 percent decrease in tax dollars coming into the state's general fund.

Supporters say economic growth, spurred partly by increased spending and investment of income tax savings, likely would make up for any lost revenue caused by the tax cut.

Not everyone is convinced.

"I appreciate the governor's interest in reducing the income tax, but I just don't think we can afford it," said Rep. Gilda Cobb-Hunter, D-Orangeburg, the only member of the House Ways and Means Committee to voice concern over the bill Wednesday.

In an exchange with Rep. Lanny Littlejohn, R-Spartanburg, Cobb-Hunter said the tax break would disproportionately favor the wealthy.

Littlejohn, whose subcommittee approved the bill last week, called the tax plan "compassionate and fair."

"This brings us in line with the other states around us and makes us more competitive on the Southeast scale," Littlejohn said.

Georgia's top personal income tax rate is 6 percent; North Carolina's is 8.25 percent; and Florida is one of six states that has no personal income tax.

The full House could vote on the bill as soon as Tuesday. The bill could face difficulties in the Senate, where a proposal to cut the income tax died last year.