The S.C. House Republican Caucus  supports Gov. Nikki Haley’s plan to cut the state income tax and increase the state gasoline tax but needs to figure out a way to offset the loss of revenue, Rep Bruce Bannister, R- Greenville, said today. The House majority leader said “there is nothing in her proposal that we don’t view as a good thing.”

“Whether or not we can get them all done at one time is something we don’t have an answer to yet,” Bannister said. He said the 78 caucus members are glad Haley “is taking a leadership role in directing additional” money to roads.

Speaking to more than 400 people Friday at the Anderson Area Chamber of Commerce annual meeting, Haley continued to promote her plan that would cut the income tax rate from 7% to 5% over 10 years and raise the gas tax by 10 cents a gallon.

The governor said South Carolina has the highest income tax in the Southeast and “that’s not a good thing.” She said the rate needs to be lowered to keep the state competitive in economic development efforts that have created about 60,000 jobs in the last four years. She said the income tax cut would reduce the tax burden for a person making $30,000 by $689.

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