The Latest: Panel approves road-funding compromise

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COLUMBIA, S.C. (AP) – The Latest on a compromise on road-funding legislation (all times local):

7:10 p.m.

A legislative panel has agreed to a road-funding compromise that would increase the gas tax by 12 cents a gallon over six years and eventually generate an additional $600 million annually for construction.

A committee tasked with crafting a compromise between the House and Senate’s road-funding plans voted Friday on a variety of fee increases and tax cuts.

House Majority Leader Gary Simrill says the Legislature is on the verge of making history. The House and Senate must approve the agreement.

South Carolina’s gas tax hasn’t increased in 30 years. The compromise would eventually increase it to 28.75 cents a gallon.

The compromise lets South Carolinians claim the extra money paid at the pump through tax rebates. Other pieces expand tax credits for college tuition and cut property taxes for manufacturers.

10:30 a.m.

A legislative panel has tentatively agreed to increase South Carolina’s gas tax by 12 cents over six years to help fund road construction.

A committee trying to craft a compromise between the House and Senate’s road-funding plans voted Friday to hike the tax by 12 cents. It was the first major decision by the committee. It essentially adopts the Senate’s version on the gas tax, without an inflation factor. House members said they could not approve letting the tax rise with inflation after six years.

The House’s version increased the tax by 10 cents over five years.

Debate on the plans continues Friday.

The panel is trying to come up with a plan that can receive a supermajority vote in both chambers to override Gov. Henry McMaster’s promised veto.

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