S.C. Governor Mark Sanford has announced a three-pointed plan to cut business and personal taxes in the hopes of growing the state's economy and creating more jobs.
The Post and Courier has an analysis of the proposed changes and how most business folks think it would be great for the state business climates, but they also note that repealing the state's sales-tax holidays and hiking cigarette taxes by 30 cents a pack will be tough sells.
But The Palmetto Scoop is ranting and raving about the proposal, not for the plan itself, but it being nearly identical to a plan proposed in February.
Read more stories on this subject in our state budget topic page. There's a magic point where tax cuts don't help encourage economic growth; so let's hope that Sanford's plan will give South Carolina a competitive edge in attracting more growth, and won't simply result in less cash for the state's coffers. Because, as we've already seen, less cash for the state means more state job cuts.
The plan would have to be implemented by the Legislature.
Update December 10: Updated throughout.