Posted on Thu, May. 20, 2004


Senators agree to plan moving Sanford's income tax plan forward


Associated Press

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.





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