• Eliminated residential school operating property       taxes resulting in a $521 million savings to       taxpayers in the first year of implementation
   • Removed the 5% sales tax on food, saving       taxpayers $335 million
   • Eliminated the "bottom" 2.5% individual income       tax bracket that taxed the first $2,630 of a       taxpayer's income at 2.5% – now it's zero. This       saves taxpayers $86.4 million each year, and       benefits 100% of South Carolina taxpayers
   • Reduced tax rates for small businesses by taxing       sole proprietors, partnerships and S-corporations       in the same manner as corporations - at a flat rate       of 6%. When fully phased in by tax year 2009,       savings to taxpayers will be $129 million
   • Capped increases in property tax millage