South Carolinians could see an income tax cut by next year's filing season..IF the state lawmakers can get together on how to do it. State House Republicans seem ready to tackle cutting South Carolina income taxes before this year's General Assembly session ends in May.
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A House subcommittee plans to pass a bill cutting the state's top income tax rate from 7% to 6% over five years just in time to be considered along with the budget later this month. The cut in full effect would cost the state about 750 million dollars.
Republicans and Democrats want to talk about taxes, but some lawmakers only want to cut income taxes as part of a broader effort to reform the state's entire revenue system.