COLUMBIA, S.C. — South Carolina’s new state budget has taken effect, bringing with it a tax break for those in the highest income bracket.
The budget lowers the state’s top individual income tax rate from 6.2% to 6%. Just a few years ago, the rate was as high as 7%. Lawmakers say the continued push to reduce the top rate is part of a broader effort to make the state more competitive and stimulate economic growth.
“I’ll take any tax cuts there are, because, you know, anything helps,” said Tommy Rollins, a South Carolina resident who noticed an increase in taxes when he moved to the state…