The SC House Tax Policy Review Committee heard a presentation from Dr. Rebecca Gunnlaugsson of the Palmetto Promise Institute on Thursday, Jan. 24.
The presentation was an update of her talk in September 2017. Thursday’s key takeaways are:
- Reform is an evolution, not a revolution
- Cutting taxes cannot be the exclusive goal, it’s about optimizing how funds are spent
- Tax triggers must be included in the event of an economic downturn
A video of her full presentation to the Committee can be seen here.
You can also read the 31-page presentation from 2017, subtitled “A Practical Plan for Tax Reform that Creates Equity, Stability and Growth”.
The committee’s current focus is on income tax. Its upcoming meetings in February will feature additional presentations, including from the S.C. Chamber of Commerce.
This 14-member ad hoc committee was created in 2016 by Speaker of the House Jay Lucas. It is responsible for reviewing South Carolina’s current tax code and submitting to the Speaker suggestions for reform.
Recommendations drafted as legislation would go to the Ways and Means Tax Subcommittee chaired by Rep. Alan Clemmons (R-Myrtle Beach), who has been added as a committee member.
Details of all meetings of the SC House Tax Policy Review Committee dating to August 2016 can be found here: https://www.scstatehouse.gov/CommitteeInfo/HouseTaxPolicyReviewCommittee/SCHouseTaxPolicyReviewCommittee.php