| Governor Proposes Plan to Lower Income Taxes |
| (Camden-AP) -- Governor Mark Sanford says
his plan to lower the state's income tax rate would encourage the
growth of small businesses in South Carolina. Sanford is outlining the plan in a tour around the state. He says the plan would attract large companies interested in relocating in the state. Sanford plans to visit a dozen cities in a three-day tour to discuss his economic stimulus proposal for the legislative session that begins in January. Sanford wants to increase the cigarette tax to 68 cents a pack, the national average. The state's seven-cent tax is fourth-lowest in the nation. Sanford also would add the five percent state sales tax to lottery tickets. He says the expected $222 million in new tax money would cover a 15 percent reduction in income tax revenue. |