$2B income tax and rebate bill heads to SC Senate floor

By Jeffrey Collins

COLUMBIA, S.C. (AP)– A bill that would give everyone who files an income tax return in South Carolina a rebate of at least $100 is speeding its way through the state Senate. The Senate Finance Committee on Tuesday unanimously passed the $2 billion bill, which also includes cutting the top income tax rate in the state from 7% to 5.7%. The proposal would give people who owe no state income tax $100 and filers would get the tax they pay back up to $700. The proposal now heads to the Senate floor. The sometimes long-winded Senate Finance Committee debated the bill for less than 20 minutes.