SC

Sources: Davis Plan Would Match NC Tax Cut

TAX PLAN SCHEDULED TO BE INTRODUCED THIS WEEK S.C. Sen. Tom Davis (R-Beaufort) is planning to introduce legislation this week that would reduce South Carolina’s income tax rates in a manner consistent with recent cuts passed in North Carolina. A State House source tells FITS Davis’ draft language is “a…

TAX PLAN SCHEDULED TO BE INTRODUCED THIS WEEK

S.C. Sen. Tom Davis (R-Beaufort) is planning to introduce legislation this week that would reduce South Carolina’s income tax rates in a manner consistent with recent cuts passed in North Carolina.

A State House source tells FITS Davis’ draft language is “a virtual mirror” of the North Carolina cuts – which are set to return $2.5 billion to individual taxpayers and small business owners in the Tar Heel state over the next five years.

If accurate, that means Davis’ plan would drop South Carolina’s top marginal rate of 7 percent to 5.75 percent –  a savings of several hundred million dollars.

Davis declined to confirm details of his proposal, but told FITS he would be happy to discuss it after it is formally introduced.

Pro-free market lawmakers like Davis are disappointed so-called “Republican” leaders in the S.C. General Assembly haven’t acted on an income tax elimination plan proposed last December by S.C. Sen. Katrina Shealy (R-Lexington).

Shealy’s plan was pre-filed three-and-a-half months ago, but Senate leaders have yet even to hold a hearing on it.

That’s embarrassing … particularly seeing how quickly they ram through hundreds of millions of dollars in spending and borrowing for crony capitalist “economic development” deals.

Also embarrassing? The deafening silence on tax issues from S.C. Gov. Nikki Haley – who was a staunch proponent of income tax relief during her time in the S.C. House of Representatives.

Haley’s tax plan? Yeah … it’s a joke.

Pic: Travis Bell Photography

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19 comments

I like gruel April 2, 2014 at 10:22 am

“Please master, may I have a few more bread crumbs so I might add a little bit of weight?”

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GrandTango April 2, 2014 at 10:28 am

Davis needs to avoid pulling a “Sanford.” Sanford was like a Democrat (see Obamacare)…He’d talk about how good it was gonna be…only to peter out and eventually fail at everything he touched.

If it was not for Bush’s great national economy, and Sanford getting his @$$ out of the way…Sanford would have been killed, politically years ago…

Davis better have a plan of ACTION…not just talk, like Sanford was a master of…

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guest April 2, 2014 at 10:40 am

Apparently people in SC1 like Sanford as no other Repub came forward to run against him. At one time he compared himself to King David, but now he is more like Lazaras.

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GrandTango April 2, 2014 at 11:02 am

Lowcountry voters are a lot more lenient w/ a penchant for what they perceive as style, more than they are concerned w/ substance.

Sanford has the right pedigree, the piety and a tone-deaf belief that he is entitled, just as they do in Charleston.

While it may play well in their minds and in their fiction (see GWTW)…it ain’t worth a D*#n when you need real leadership…like we do now (more than ever)….

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Norma Scok April 2, 2014 at 1:04 pm

You should run for office and tell us all how stupid we are in Charleston.

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GrandTango April 2, 2014 at 1:06 pm

If you have seen the “Reality” show Southern Charm, you don’t need me to demonstrate…That is the epitome of the worst of you…just as Sanford is…

Norma Scok April 2, 2014 at 1:30 pm

So you are basing your opinion of an entire city of people based off of the nonsensical reality show sufferings of Thomas Ravenel?

Folks..please stop with the alter ego. Its not even believable any more.

GrandTango April 2, 2014 at 1:50 pm

If you put Sanford in office… A silver-spoon, character-lacking dirtbag… that speaks for you..and is right in line w/ what I see on the REALITY show…

My advice: Don’t elect reprobates, and people may not see you that way…

Norma Scok April 2, 2014 at 10:27 pm

Sanford doesn’t even live in Charleston..neither does “T-Rav”!

But Fits, I’m sure you already know that.

EJB April 2, 2014 at 12:17 pm

Sanford had a number of GOP contenders to beat before he got into the election with Colbert Busch. He got 37% of the vote in the first go ’round with Bostick getting 13%. He beat Bostic 57% to 43% in the run off. He beat Colert Busch with 54% of the vote (turnout 31%). He had plenty of competition and beat them all, soundly.

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guest April 2, 2014 at 1:12 pm

I was talking about the 2014 election which hasn’t happened yet, He will definitely win again and may continue to win future elections for the US House seat.

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ReElect Nikki April 2, 2014 at 3:22 pm

Mark Sanford represents “Conservative values.”Thank God we have him in Washington!

CNSYD April 2, 2014 at 11:16 am

What is the list of “fees” that will replace the “lost revenue”? Oh yeah, I really believe there will be none. Carpetbagger Davis is charlatan of the first order.

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Smirks April 2, 2014 at 11:30 am

Tax cuts never result in shortfalls. Ever. EVER.

Free ponies for everybody!

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southmauldin April 2, 2014 at 12:41 pm

Ever squeeze a balloon?

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Tom April 2, 2014 at 11:23 am

He is a Republican, right? The NC tax cuts cut the taxes on wealthy people and paid for those cuts by increased taxes on low and middle income people in NC and cuts to programs that benefit middle income people in NC. That is the standard Republican Model of tax reform.

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Smirks April 2, 2014 at 11:34 am

SC needs more diverse brackets for income tax if anything. It doesn’t take much to end up in the top bracket here. This way relief could better target those who need it rather than those who are already well off.

I’d say move the top bracket to around the average household income at least.

But yeah, you’re right, this is standard reform for Republicans, so we aren’t going to get real reform to benefit the working class.

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Yelsewh April 2, 2014 at 12:32 pm

You do realize that NC’s property taxes are higher than SC’s, do you not?

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CNSYD April 2, 2014 at 1:18 pm

Stop with the facts! It messes up Sic Willie’s little stories.

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