Taxes and Spending

Under the Responsible Budget, But Not Done

The good news first: South Carolina’s recurring General Funds budget is under the South Carolina Responsible Budget benchmark this year.  Using the latest figures, a $13.25 billion FY26 base increased by 1.79 percent population growth plus 2.62 percent inflation allows for a FY27 budget of about $13.83 billion. The proposed...

Vance Ginn Ph.D.

Written by
April 24, 2026

  • Under the Responsible Budget, But Not Done

    The good news first: South Carolina’s recurring General Funds budget is under the South Carolina Responsible Budget benchmark this year.  Using the latest figures, a $13.25 billion FY26 base increased by 1.79 percent population growth plus 2.62 percent inflation allows for a FY27 budget of about $13.83 billion. The proposed...
    Vance Ginn Ph.D.

    Written by
    April 24, 2026

  • South Carolina needs to spend more (on tax relief)

    As the great Benjamin Franklin once said, “in this world, nothing is certain except death and taxes.” In South Carolina, there might as well be another – government spending.  Over the past decade, one pattern has held constant: the General Fund grows nearly every year, typically outpacing both inflation and population growth. 
    Sam Aaron

    Written by
    April 01, 2026

  • Governor signs South Carolina boat tax cut into law

    The state of South Carolina has a disproportionately high tax rate on boats compared to other property such as homes and cars. However, S.C. boat owners may finally be seeing meaningful tax relief as H.3858 has been signed into law by Governor McMaster.
    Ethan Brawer

    Written by
    March 31, 2026

  • Media Release: SCPC statement on H.4216

    March 11, 2026  The South Carolina Policy Council supports continued progress toward comprehensive state income tax reform. H.4216 includes our amendment from last spring that ensures $200 million, or 25% of future budget surpluses, will be allocated to tax reform. This represents the most ambitious tax reform proposal in decades—a fight SCPC has championed since its inception. The amendment passed by a margin of...
    South Carolina Policy Council Team

    Written by
    March 12, 2026

  • Finish the Job: Make South Carolina’s Tax Reform Sustainable

    South Carolina is closer than ever to a real, structural path to zero income taxes. The amended version of H.4216 is a meaningful improvement over earlier drafts. Based on recommendations from the South Carolina Policy Council, it now includes a provision dedicating 25 percent of the recurring income tax revenue...
    Vance Ginn Ph.D.

    Written by
    February 25, 2026

  • S.C. Senate moves to expand property tax homestead exemption

    As home value assessments rise, South Carolina residents 65 and older are increasingly calling for property tax relief. 
    Neil Wolin

    Written by
    February 19, 2026

  • S.C. House advances small business tax proposal

    South Carolina lawmakers are continuing to look for ways to make the state a more supportive place for small businesses, including proposals that would lower taxes and reduce paperwork.  
    Cameron Rumpp

    Written by
    February 18, 2026

  • Big spending, bigger choices for South Carolina

    South Carolina lawmakers are once again facing an important choice. As budget subcommittees meet through early February and the Senate prepares to debate income tax reform on the floor, the state must decide whether strong revenue growth will be used to expand government or to deliver lasting tax relief.
    Vance Ginn Ph.D.

    Written by
    February 09, 2026

  • Hollywood handouts: Why giveaways harm South Carolina

    South Carolina is in the process of making the state a more competitive and attractive business environment across all industries, including the consideration of tax cuts for residents.  
    Neil Wolin

    Written by
    January 23, 2026

  • FY 27: Another year of big state spending?

    On Monday, S.C. Gov. Henry McMaster released his proposed state spending plan for fiscal year 2027, which starts July 1. 
    Sam Aaron

    Written by
    January 16, 2026