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"A collaborative political resource." |
S.C. income tax rate lower than neighbor’s - Federal tax data appears to be at odds with Sanford’s claim in speech
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| Contributor | Joshua L. |
| Last Edited | Joshua L. Jan 23, 2004 11:32pm |
| Category | News |
| News Date | Jan 23, 2004 12:00am |
| Description | Gov. Mark Sanford used his State of the State speech to renew his call for lower personal income taxes, calling the state’s rate the highest in the Southeast.
But economists and federal data say it just isn’t so.
Sanford on Wednesday told members of the General Assembly that his No. 1 legislative priority this year will be to lower the state’s top personal income tax rate from 7 percent to 5.9 percent.
Cutting the tax rate, he said, will stimulate job growth in South Carolina. The state has had job losses in each of the past three years, the longest string of losses since the Great Depression. |
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