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S.C. Budget stuck between Republican on tax dollars
With the current South Carolina state budget for a myriad of programs expiring on July 1, the clock is ticking for both sides of the Republican controlled legislature to agree on a new deal.
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But the House and Senate are stuck, trying to figure out taxes.
No, not raise them, but how $1.4 billion in new tax dollars can be used to cut taxes — and both sides have different ideas on who is most deserving.
I'll point you to The State's report for a solid rundown, in part:
In making their point, senators characterized the House proposal as a tax cut for the wealthy. Just more than half of the $64 million tax cut would go to the wealthiest 5 percent of taxpayers eligible for the break – taxpayers who have more than $400,000 in annual taxable income. The rest of the tax cut would be divided up among 55,740 tax filers.
Ken Hawkins Ken is a Lowcountry native and has more than 10 years of journalism experience with a strong background in information visualization. He is a founder of … More
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