The South Carolina Senate has unanimously passed a $2 billion income tax cut and rebate bill, setting up what will likely be intense negotiations with the House over the $1 billion tax cut it passed last month.
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 Republican-dominated South Carolina House has unanimously passed a $600 million income tax cut in less than 15 minutes of debate.
The House Ways and Means Committee voted unanimously Tuesday to approve the bill that would cut the state’s top 7% income tax rate to 6.5% next year and push all other taxpayers into a 3% bracket.
The plan by Senate Finance Committee Chairman Harvey Peeler adds an even larger number to the debate on cutting taxes heating up in the General Assembly.
Consumer News: Americans spent more than expected in January, State lawmakers propose tax cut
