S.C. Budget stuck between Republican on tax dollars

Image by Flickr user Samantha Decker

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.

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.

Read the paper's report here.

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