Senate Finance Committee to take up $800 million road-funding plan
Columbia, S.C. (AP) —
Senators are considering a bill that would eventually raise nearly $800 million additional for South Carolina's roadways.
The Senate Finance Committee could vote later Tuesday on a proposal that would increase the state's gas tax by 12 cents over the next six years, to 28 cents per gallon. That's two pennies more than the road-funding plan approved by the House earlier this month.
An updated estimate shows the House plan would eventually generate $530 million additional yearly.
The Senate plan raises more by also increasing the sales tax cap on vehicles from $300 to $700 instead of $500. And it charges more for a newly created fee. People moving to South Carolina would pay $350 instead of $250 to register a vehicle bought outside the state.