Taxes and Spending

Getting the most tax relief out of the FY25 budget

Update 5/8/24: The House on Wednesday passed an amended FY25 budget that, among other changes, reduced the funding appropriated for property tax credits from $500 million to $150 million. If funded at this level, we estimate the average tax credit would amount to roughly $108 (down from $359). SCPC recommends delivering...

  • Getting the most tax relief out of the FY25 budget

    Update 5/8/24: The House on Wednesday passed an amended FY25 budget that, among other changes, reduced the funding appropriated for property tax credits from $500 million to $150 million. If funded at this level, we estimate the average tax credit would amount to roughly $108 (down from $359). SCPC recommends delivering...
  • Transparency efforts could illuminate SC’s budget process

    Giving citizens a clearer picture of where their tax dollars are going, and why As a research intern for the S.C. Policy Council, I attended many legislative hearings over the spring months to learn about the state’s next budget. My objectives were twofold: see firsthand how the budget is constructed...
  • Mystery money: How to return the $1.8 billion to taxpayers

    Update 4/19/24: The Senate Finance subcommittee investigating the $1.8 billion issued an interim report on Tuesday. It recommends a forensic audit of the bank account in question, legislation to make the State Auditor more independent, and a constitutional amendment to make the Treasurer an appointed position instead of being elected by...
  • Proposed SC budget exceeds recommended limit, could do more for tax relief

    Update 3/13/24: The House on Wednesday passed an initial draft of the next state budget, unchanged from the summary below. The week saw healthy debate and commendable efforts from lawmakers to challenge spending requests, including several noted in this report. We encourage the Senate, which goes next in the process, to utilize...
  • Pricey projects on college budget wish lists

    Recently, some of South Carolina’s top universities shared their fiscal year 2024-25 spending plans with the Senate’s higher education budget subcommittee. The requests included plenty of high-dollar projects that would be funded with taxpayers’ money. Below are a few highlights.  
  • Impact: Upstate county pushing conservative budget ordinance

    Weeks after the Policy Council released its 2025 SC Sustainable Budget – a data-driven report aimed at reining in state government spending – an ambitious budget proposal was introduced to Upstate taxpayers. 
  • Lawmakers send pension protection bill to governor's desk

    The S.C. Senate this week unanimously passed a bill (H.3690) to ensure that South Carolina’s pension funds are invested based on financial criteria to maximize shareholder value, not advance ESG (environmental, social, and governance) objectives. The bill, having passed the S.C. House last year in near-unanimous fashion, heads to Gov....
  • The need for spending relief: the 2025 SC Sustainable Budget

    By Bryce Fiedler and Vance Ginn, Ph.D. Thanks to a robust state economy, plentiful business opportunities, and a relatively low cost of living, South Carolina remains one of the fastest-growing states in the nation. To maintain this strong position and promote further growth, it is crucial for S.C. legislators to...
  • Important state budgetary law ignored once again

    More than one hundred planning documents for next year’s state budget are missing important data required by South Carolina law.
  • South Carolina needs more freedom, study shows

    Another study has found that South Carolina relies heavily on government aid compared to other states, ranking 43rd in terms of government independence, according to WalletHub’s June report. When looking at overall dependency (financial, government, job-market, international and personal vice dependency), South Carolina ranks sixth worst in the nation.  ...