Taxes and Spending

  • Student loan forgiveness the wrong policy for nation, South Carolina

    President Joe Biden recently announced his long-rumored student loan forgiveness plan, a policy that will further burden South Carolina taxpayers and do nothing to address the fundamental problems behind rising college tuition. Under the plan, single individuals making less than $125,000 qualify for $10,000 in federal student loan forgiveness, while...
  • Sustainable budgeting: a new path for South Carolina

    By Bryce Fiedler and Vance Ginn, Ph.D. With its vibrant cities, relatively cheap cost of living, and thriving industries like manufacturing, healthcare and hospitality, it’s obvious why South Carolina is one of the fastest growing states in the nation. To keep its competitive edge and protect the interests of taxpayers,...
  • Inflation in SC shows need for bold tax cuts

    Record breaking prices are making everyday life harder for Americans, especially for some in South Carolina. Indeed, by some measurements, the Palmetto State (and the South generally) is experiencing higher inflation than the rest of the country.   THE BIG PICTURE  In the South, overall prices have jumped by 8.8% in the last year (Apr...
  • Perspective: Utilize mega surplus for tax relief, not government growth

    When we published our analysis comparing the House and Senate tax cut bills last month, we noted that state government was expecting a $4.6 billion revenue surplus for next fiscal year, and questioned why House lawmakers opted for a relatively small cut that would take years to fully phase in given the extra money...
  • These House budget provisos need attention

    The House this week passed its version of the largest state government budget in South Carolina’s history – a bill that would appropriate $38.2 billion in tax dollars, federal funds, and other fines and fees. Included in the bloated budget are hundreds of temporary laws called “provisos”, which are meant...
  • Analysis: SC’s competing tax cut proposals, what to know

    After years of justified frustration from taxpayers, state lawmakers have finally decided to address South Carolina’s highest-in-the-Southeast top income tax rate. The House on Wednesday passed a bill that would lower and consolidate the state income tax, while the Senate recently introduced its own income tax proposal that includes a plan to use $1 billion in...
  • Three crucial tax reforms for South Carolina

    The S.C. Legislature convened for session this week, renewing calls to fix South Carolina’s dated and uncompetitive tax structure. This focus comes as our northern neighbor passed a significant tax cut last year, with Georgia making a smaller cut, making the Palmetto State’s years of inaction even more baffling.    Taxes can be complicated – our problems, however, are...