Current location:Global Graph news portal > business
South Carolina Senate wants accelerated income tax cut while House looks at property tax rebate
Global Graph news portal2024-05-21 10:10:34【business】6People have gathered around
IntroductionCOLUMBIA, S.C. (AP) — The South Carolina Senate started debating a budget Tuesday that accelerates a
COLUMBIA, S.C. (AP) — The South Carolina Senate started debating a budget Tuesday that accelerates a planned income tax cut instead of the House plan to use $500 million to give homeowners a one-time property tax rebate.
Once the spending plan passes the Senate, a group of three House members and three senators — likely including the leaders of each chamber’s budget committee — is going to have to sort out the differences over the next month or so with the tax break and other items in South Carolina’s $15.4 billion spending plan for next budget year.
Republican Senate Finance Committee Chairman Harvey Peeler has called the competing tax breaks a wonderful problem to have in the 2024-25 fiscal year budget, which again left lawmakers with a substantial pot of additional money to spend.
But Peeler has left little doubt he thinks spending $100 million to knock the income tax rate most people pay in the state from 6.3% to 6.2% is the right move, saying it lasts forever compared to a one-year drop in property tax. The state is in the middle of a five-year effort to cut its top income tax rate from 7% to 6%.
Address of this article:http://rwanda.unhasdecoradas.org/article-40d699305.html
Very good!(62)
Related articles
- ‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
- Putin announces plans to run for president in 2024
- Bankruptcies in Japan rise for 19th month
- Hunter Biden indicted on multiple counts related to firearms, tax evasion
- 'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
- Ethiopia says ready to play constructive role as new BRICS member
- Supreme Court of U.S. Michigan keeps Trump on 2024 primary ballot
- Sri Lanka witnesses rise in dengue cases with over 10,000 reported in December
- Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
- WHO chief warns no functional hospital exists in north Gaza
Popular articles
Recommended
Investigators return to Long Island home of Gilgo Beach serial killing suspect
Sri Lanka witnesses rise in dengue cases with over 10,000 reported in December
Rohingya ordered by Myanmar officer to ‘fight for our faith’ — Radio Free Asia
Hamas releases 5th batch of hostages from Gaza
Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
Attacks on U.S. base resume in revenge campaign for Gaza: monitor
Attacks on U.S. base resume in revenge campaign for Gaza: monitor
China Development Bank doubles loan support for farmland work
Links
- Jamelia reveals the REAL reason for her sudden exit from Hollyoaks
- CERAWeek kicks off, focusing on global multidimensional energy transition
- Influencer Laura Lee reveals she spent $2,000 buying Kylie Jenner's USED designer shoes
- José Ramírez gets key hit to help the Guardians beat the Red Sox 10
- California game store thief is wrestled to ground during robbery
- Danny Dyer horrified to learn son Arty, nine, is a fan of controversial influencer and self
- Watch What Happens Live: Kristen Doute says The Valley co
- Billionaire Barry Diller and fashion designer wife Diane von Furstenberg pay $45million for 1.5
- Tyler Myers, Thatcher Demko help Canucks beat Flames 4
- India elections 2024: Colorful roadshows, rallies mark start of poll season