Gov. McMaster, S.C. House leaders announce income tax cut proposal
COLUMBIA, S.C. (WCSC) – Governor Henry McMaster, joined by House leaders and members of the S.C. House Republican Caucus, on Tuesday announced a state income tax cut proposal.
The proposal advances an earlier plan by two years and would immediately lower the tax rates of those currently paying 4%, 5% and 6% to just 3%. The proposal would also drop the current 7% tax bracket to 6.5%.
McMaster called the proposed tax cuts a “pay raise for everyone who is working for a living.”
“This tax cut will start an avalanche of change and prosperity unlike anything we have seen and add one more reason for South Carolina to have great success in the future,” McMaster said.
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