South Carolina to cut income tax rate with $100 million from budget surplus

COLUMBIA, S.C. – Lawmakers are spending part of a $600 million surplus on an effort some experts say might make South Carolina more competitive. The state will use roughly $100 million of the surplus to cut income taxes permanently. Some experts say that while it might not make too much of a difference in the amount of pocket change you have-it’s part of a broader effort to reduce the income tax rate in South Carolina.

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