SC House Approves Bill Cutting Income Taxes

COLUMBIA, S.C. (AP) _ The South Carolina House has approved a bill cutting personal income taxes. Legislators voted 104-3 on Tuesday to collapse the state’s tax brackets and give all residents who pay taxes a modest break. Budget advisors expect it would reduce state revenues by $78 million. The bill is part of a tax-cutting package introduced last month by House Republicans. The measure received bipartisan approval after House Minority Leader Harry Ott put up an amendment delaying the cut until next year. The St. Matthews Democrat told Republicans that otherwise the bill was sure to die in the Senate. He argued the House shouldn’t create a $78 million hole in the budget it passed last month without identifying corresponding cuts. The Senate Finance Committee is working this week on its 2012-13 budget.