Wednesday
Mar212012
House Approves Plan That Would Increase Taxes on Poor Residents
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(COLUMBIA, S.C.) -- Under a Republican tax plan approved Tuesday by a House panel, state income taxes would increase for South Carolina’s poorest residents.
The State reports that the proposal would require low-income residents to pay the state 3 percent of their taxable income—an increase of up to $84 for many residents.
“No matter how you go about tax reform, there are going to be winners and losers,” state Rep. Garry R. Smith said. “You try and mitigate the best that you possibly can. And I think we’ve done a pretty good job of doing that. We’re trying to make this as flat and as fair as possible.”
Under the current law, those with a taxable income of $2,800 or less pay no state income tax.
Copyright 2012 ABC News Radio
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