COLUMBIA, S.C. — Republican leaders in the South Carolina House appear ready to tackle cutting income taxes in the state before this year’s General Assembly session ends in May.
A House subcommittee plans to pass a bill cutting the state’s top income tax rate from 7% to 6% over five years in time to be considered along with the budget later this month.
The cut would cost about $750 million when fully in effect.
Republicans and Democrats want to talk taxes. The question may be whether some lawmakers only want to cut income taxes as part of a broader effort to reform all kinds of taxes.