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Monthly Archives: March 2012
SC GOP House Tax Plan Shifts a Billion Dollars onto Owners of Homes and Vehicles
Two of the bills in the SC House GOP Caucus tax package will both transfer significant tax burden onto homeowners and car owners and gut budgets of schools, counties, municipalities and special purpose districts. The legislation is advertised as reducing … Continue reading
Posted in SC Budget
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SC Small Business Tax Cut Shrinks Government but Doesn’t Help Small Business Development
The SC House GOP proposed tax cut for small businesses will cost South Carolina’s General Fund $60 million per year while generating no economic development benefits. This bill reduces the tax rate on businesses which are not “C” corporations (“sole … Continue reading
SC House Republicans Move to Tax Working Poor
The SC House Republicans have moved to amend legislation to increase taxes on working poor South Carolinians. The bill (H. 4997), part of the House GOP Caucus’s “comprehensive tax reform,” originally provided up to a $168 tax cut to taxpayers … Continue reading
SC House GOP Sales Tax Plan Addresses only 8 % of Exempted Sales
Leaving the cap on sales taxes on cars untouched, the much ballyhooed elimination of “two-thirds of the special interest sales tax exemptions” in the SC House Republican Caucus’s comprehensive tax reform plan only effects 8 % of sales and use … Continue reading
SC House GOP Tax Package Does Little for Economic Development and Poses Long-term Threats to Fiscal Health
The South Carolina House Republican Caucus finally introduced its “comprehensive tax reform plan” this week. The seven planks of the plan include three aimed at encouraging economic development that will do little or nothing to bring new jobs or raise … Continue reading
