Friday, January 9, 2009

Sanford releases spending proposal

Limited details available, w/more coming later.

a) tax swap not wholly unlike Utah Gov. Jon Huntsman's, Sanford wants to raise the cigarette tax to pay for an optional flat income tax (Huntsman swaps the cigarette tax for no sales tax on food).

b) eliminate corporate income taxes by cutting some business tax breaks.

c) deliver $203 million in savings on education department cuts.