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A $13.8 billion budget that sends hundreds of dollars of rebates to many South Carolina taxpayers and also cuts their income tax rates is on its way to Gov Henry McMaster's desk.
The spending plan, which takes effect July 1, immediately cuts the top income tax rate from 7% to 6.5% and gradually lowers it to 6% over five years.
Many South Carolina taxpayers may soon be getting several hundred dollars in tax rebates on top of a cut in their regular tax rates. The $13.8 billion budget compromise approved
COLUMBIA, S.C. (AP) — Several powerful House and Senate lawmakers met Tuesday for about 10 minutes to talk about South Carolina's budget without reaching an agreement on the main sticking points.
Lawmakers are finalizing South Carolina's spending plan and found they have an extra $1.3 billion to allocate thanks to tax revenue.