The financial leader in the South Carolina Senate has proposed nearly $2 billion in income tax cuts and rebates. 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. Peeler's plan would drop the state's top tax rate of 7% down to 5.7% when people file their returns next year. That would cost nearly $900 million. Peeler also wants to give $1 billion of one-time rebates to taxpayers, but the Gaffney Republican said he is still working on those details. Gov Henry McMaster and Republican House leaders proposed cutting the top state income tax rate from 7% to 6.5% on Tuesday.
COLUMBIA, S.C. (AP) The financial leader in the South Carolina Senate proposed nearly $2 billion in income tax cuts and rebates on Thursday, adding an even larger number to the debate on cutting taxes heating up in the General Assembly.
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WASHINGTON Eight states have yet to authorize spending any of the billions of dollars in federal aid they received under President Joe Biden’s COVID-19 relief plan earlier this year, according to a think tank analysis.
Eight states have yet to authorize spending any of the billions of dollars in federal aid they received under President Joe Biden’s COVID-19 relief plan earlier this year, according to a think tank analysis.