The SC House Tax Policy Review Committee heard a presentation from Jared Walczak of the Tax Foundation on Thursday, Feb. 7, titled, “South Carolina: A Road Map for Tax Reform.”
The presentation, which is supported by the South Carolina Chamber of Commerce, can be found at https://taxfoundation.org/south-carolina-tax-reform/ .
Walczak is a Senior Policy Analyst with the Center for State Tax Policy at the Tax Foundation. He is the lead researcher on the annual State Business Tax Climate Index and Location Matters, and authored or coauthored tax reform books on Iowa, Louisiana and Nevada.
In December, Walczak made a “Road Map for Tax Reform” presentation to the Senate Finance Taxation System Review and Reform Subcommittee, which the SCACPA Advocacy Team noted at the time.
After Thursday’s presentation, the House committee held a lengthy discussion on how to move forward. Members noted there have been too many efforts in the past that ultimately never gained traction. They agreed on the need to move a plan forward soon.
The committee plans to meet again the week of Feb. 18 and will continue to formulate an income tax plan, which will be followed by a sales tax plan.
The SC House Tax Policy Review Committee is a 14-member ad hoc committee created in 2016 by Speaker of the House Jay Lucas and is responsible for reviewing South Carolina’s tax code and submitting suggestions for reform to the Speaker.