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Posted: 4:46 p.m. Wednesday, April 25, 2012
COLUMBIA, S.C. —
The South Carolina House is debating a bill that eliminates two dozen sales tax exemptions worth less than $13 million.
The House expects to debate the bill Wednesday. The bill initially eliminated more than $220 million worth of exemptions when House Republicans introduced it last month.
But legislators re-inserted 18 items during the committee process after they heard from affected businesses.
State budget advisors provided an updated estimate Monday.
The bill has a tax-neutral provision, requiring any increased revenue to be offset by lowering the state sales tax.
The committee amendments mean the state's current 6 percent sales tax would be reduced by a small fraction to 5.98 percent.
The House voted Wednesday to send two bills that cut personal and small business income taxes to the Senate.
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