● Numerous and complicated tax and fee hikes.
● Constitutional issue addressed – briefly.
● Bill to come up in full Senate next week.
The Senate Finance Committee had a productive meeting on Wednesday, passing out a road funding bill to the full Senate. This may be good news for the committee, but it’s terrible news for taxpayers.
When all was said and done, the committee passed – by a 16-7 vote – a bill that was largely the same as the transportation subcommittee proposals approved last week. The current provisions of S.523 include:
- A 12 cent gas tax increase phased in over three years, followed by annual increases in the gas tax to account for inflation (the inflation increases would be limited to no more than a 2 cent increase in the tax per year). The inflation increase would not be imposed if it would create a South Carolina state gas tax that is higher than the highest gas tax (combining state and local taxes) in either North Carolina or Georgia.
Continue reading this story at The SC Policy Council.