CHARLOTTE, N.C. — A new bill being discussed in the South Carolina Senate would give everyone who files income taxes in the state a rebate check of at least $100.
That includes the more than 1 million people who pay no state income tax. A subcommittee sent the rebates to the full Senate Finance Committee on Thursday. The checks make up about half of a $2 billion package that would also cut the top income tax rate from 7% to 5.7%.
The Senate proposal doubles the money put into tax cuts by the House, which unanimously passed its own tax package without a rebate last week.
According to a report from the Associated Press, tax cuts went from talk to action in the past few weeks after economists announced that between the booming state economy and money saved from previous budget years, South Carolina lawmakers have an extra $4.5 billion to spend this session.
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