Category Archives: SC Budget

Rewarding Work and Building Wealth: A State Earned Income Tax Credit

Rather than doling out small individual income tax cuts of up to $84 per year to better off taxpayers, the South Carolina General Assembly should instead implement a Ronald Reagan endorsed pro-family, job creation measure which can have real impact—a … Continue reading

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SC Senate on Verge of Giving State Power to Take Over Medicare

The South Carolina Senate is poised to pass legislation to authorize South Carolina to take over all federal health care programs and repeal all federal health care laws and regulations. That would end Medicare, the health care program for persons … Continue reading

Posted in Economy, Health Care, SC Budget | 5 Comments

SC GOP House Tax Plan Shifts a Billion Dollars onto Owners of Homes and Vehicles

Two of the bills in the SC House GOP Caucus tax package will both transfer significant tax burden onto homeowners and car owners and gut budgets of schools, counties, municipalities and special purpose districts.  The legislation is advertised as reducing … Continue reading

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SC Small Business Tax Cut Shrinks Government but Doesn’t Help Small Business Development

The SC House GOP proposed tax cut for small businesses will cost South Carolina’s General Fund $60 million per year while generating no economic development benefits.  This bill reduces the tax rate on businesses which are not “C” corporations (“sole … Continue reading

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SC House Republicans Move to Tax Working Poor

The SC House Republicans have moved to amend legislation to increase taxes on working poor South Carolinians.  The bill (H. 4997), part of the House GOP Caucus’s “comprehensive tax reform,” originally provided up to a $168 tax cut to taxpayers … Continue reading

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SC House GOP Sales Tax Plan Addresses only 8 % of Exempted Sales

Leaving the cap on sales taxes on cars untouched, the much ballyhooed elimination of “two-thirds of the special interest sales tax exemptions” in the SC House Republican Caucus’s comprehensive tax reform plan only effects 8 % of sales and use … Continue reading

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SC House GOP Tax Package Does Little for Economic Development and Poses Long-term Threats to Fiscal Health

The South Carolina House Republican Caucus finally introduced its “comprehensive tax reform plan” this week. The seven planks of the plan include three aimed at encouraging economic development that will do little or nothing to bring new jobs or raise … Continue reading

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Funding Private Schools—Here We Go Again

State funding of well-off private school students and homeschoolers is back on the agenda with a South Carolina House subcommittee hearing Wednesday on the latest effort to subsidize private education with public dollars.  The design of the latest proposal will … Continue reading

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Drowning South Carolina Government in a Bath Tub

In pushing for spending caps, Governor Haley and the South Carolina House of Representatives are pushing Grover Norquist talking points, part of a strategy “to shrink government to the size where we can drown it in a bathtub,” rather than … Continue reading

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A Foolish Inconsistency, SC Leaders on Military and State Spending

Recent articles in South Carolina papers point to the growing concern that military spending cuts evidenced by base closings and slow-downs in spending on F-35 fighters destined for South Carolina will have a negative impact on our state’s economy.  James … Continue reading

Posted in Economy, SC Budget | 1 Comment