Committee Chairman Tommy Pope (R-York) began Thursday’s meeting of the South Carolina Tax Policy Review Committee by telling members his goal is find consensus to send a “working template” to the House Ways and Means Tax Subcommittee for continued debate. The plan is to adopt an income tax proposal first, followed by a sales tax proposal.
After considerable discussion, the committee agreed to ask staff to prepare a draft bill reducing the state income tax to 4.5% and simplify the criteria to align with the federal tax code. The committee hopes to adopt that plan at its meeting on Thursday, Feb. 28.
Also planned for that Thursday meeting, the committee will begin to craft a plan to reform the state’s sales tax. After that meeting, the committee will meet one final time, if necessary, before allowing the Ways and Means Tax Subcommittee to continue the work, including public testimony from interested parties.
This 14-member ad hoc committee was created in 2016 by Speaker of the House Jay Lucas and is responsible for reviewing South Carolina’s current tax code and submitting suggestions for reform to the Speaker.
The SC House Tax Policy Review Committee’s meeting agenda and video archives dating to August 2016 can be found at https://www.scstatehouse.gov/CommitteeInfo/HouseTaxPolicyReviewCommittee/SCHouseTaxPolicyReviewCommittee.php.