Gov. Mark Sanford made it clear that his number one priority for this legislative session was to pass his plan to cut the state's top income tax rate. Now, that plan is dying in the Senate. A Senate subcommittee passed a competing plan Wednesday, meaning there's virtually no chance for the governor's version to pass.

The governor's plan would have gradually lowered the state's top income tax rate from 7 percent to 4.75 percent for everyone who pays that top rate. He says his main goals are to help small businesses that pay that top rate, so they can create more jobs, and to attract wealthy retirees to the state.

But senators say they're worried about the cost of the governor's plan, which would approach $1 billion dollars when fully implemented. So Republican leaders in the Senate came up with their own smaller plan.

Instead of giving the tax cut to everyone who now pays 7 percent, it would go only to small businesses. And instead of going down to 4.75 percent, the top rate would be lowered to 5 percent.

The House has already passed the governor's plan, but the Senate's version will now go to the full Senate. If it passes there, the House and Senate will have to work out a final version, and that's the only chance the governor has to get more of his plan adopted.

Gov. Sanford says he was the only one talking about cutting the income tax before, so he's happy at least the idea is now moving forward.