Tax-cutting bills head to House floor

COLUMBIA, S.C. (AP) — The House budget-writing committee has advanced bills that cut personal income taxes and what small businesses pay on their profits in South Carolina.

The committee on Tuesday tweaked the bill that collapses personal income tax brackets, so that poor residents wouldn’t pay more. As the bill was written, those with taxable income who now pay nothing would start paying, while those in the upper brackets would have gotten a break.

Under the change, all tax filers who pay taxes would get a break, reducing state revenues by $78 million.

The other advanced bill would reduce the income taxes paid by small businesses from 5 percent to 3 percent over four years.

The committee passed over bills that Democrats complained would blow holes in local governments’ budgets.