Release – House Budget: Includes $600M in Tax Relief

Balanced budget lays out plan for economic success & job growth

For an audio quote from Speaker Harrell click here

(Columbia, SC) –House Speaker Bobby Harrell issued the following statement about the House’s adoption (by a 115 to 0 vote) of its balanced $6 billion FY2012-2013 recurring General Fund spending plan today:

“Tax relief, a port deepening trust fund, fully-funding reserve accounts, paying down state debt and funding education in the classroom were all top priorities for House Members in the balanced budget approved this week.

“Coming in well under proposed spending caps, the House’s budget delivers over $600 million in direct tax relief.  Of that, $549 million goes to a property tax relief fund with $77 million in SUTA tax relief for every single South Carolina employer.  The tax relief contained in this year’s budget adds to the more than $20 billion in tax cuts Republicans have passed since gaining a majority in the House.

“While Governor Haley took off on a statewide fly-around this week to promote a one-year only tax cut for major corporations, the House cut taxes for every single South Carolina employer.  By not including the House’s SUTA tax relief plan in her Executive Budget, businesses would see their taxes go up under the Governor’s budget.

With the comprehensive tax reform plan introduced this week, the House is working to deliver a huge victory for taxpayers.  Everything the Governor has asked for is included in our tax reform package, the difference is Governor Haley wants one-year of tax relief only and the House wants real tax reform in permanent law.

“This fiscally conservative budget is all about making South Carolina more competitive, promoting accountable government, limiting growth by focusing on core functions and responsibly planning for our state’s economic future.

“I’d like to thank Chairman Brian White, the Ways & Means Committee and all the Members of the House who worked so hard to protect our state’s taxpayers and make this year’s budget a successful plan for South Carolina.  In his first year as Chairman, Brian displayed exceptional leadership and, from start-to-finish, helped make this one of our most transparent, accountable and fiscally responsible budgets ever.  This is exactly the kind of collective conservative leadership we need going forward as the House turns its focus to the comprehensive tax reform package we introduced this week.”

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