Lawmakers plan to share part of their $1.8 billion surplus with you.

The House agreed to refund $128 million to taxpayers in an income tax credit of $100 per tax return, Rep. Chip Huggins of Irmo reported.

“The House is being conservative with taxpayer money to ensure our state remains competitive with border states,” he said.

$120 million will meet Gov. McMaster’s recommendation to lower the income tax rate from 7% to 6.8% and provide permanent income tax relief.

This year’s budget includes a record-setting $900 million of new tax relief, Huggins said.

More than $3 billion has been returned to taxpayers this year in cuts in individual income taxes, small business taxes, corporate income taxes, property taxes and food tax elimination.

This is a return of about 1/3 of general fund revenue to taxpayers, he said.

He said lawmakers are holding $136 million in reserve in case of a recession.

“We will have enough to make up for losses,” he said.

Another $50 million is for future natural disasters.

Huggins said the House plans to send $500,000 to Lexington County to repair crumbling state roads.

This is part of $23 million for road repairs on shovel ready projects for state roads in all 46 counties.

Huggins said, “What would have taken 2 years will be completed in 1.”