Victory for Taxpayers – Individual Income Tax Rate Cut Again!

Tax & Budget
Blog · June 24, 2024

Since 2017, Palmetto Promise Institute has been sounding the alarm that our South Carolina tax code is unfair, uncompetitive and imbalanced. In 2019, we took our claims to the next level by commissioning and releasing an econometric tax study by the foremost independent economist in South Carolina, Dr. Rebecca Gunnlaugsson.   Turns out we were right!  

Fiscally Responsible Government: 2023-24 Freedom Agenda in Review

Tax & Budget
Blog · June 20, 2024

Now that the General Assembly has adjourned sine die, we are taking a look back at the 23 policies Palmetto Promise proposed in the 2023-24 Palmetto Freedom Agenda at the beginning of the legislative session. Did our Freedom Agenda policies make it into law? Or, at the very least, did they start a conversation that future General Assemblies

What Tax to Cut? Property or Income?

Tax & Budget
Blog · April 30, 2024

At Palmetto Promise, we are always reluctant to question any move by the South Carolina General Assembly to cut taxes or flatten tax rates. So, we greet with joy the fact that in the wake of an estimated $500-$600 million state revenue surplus that has built up since 2020, the Senate and the House are

Let’s Jumpstart Comprehensive Tax Reform

Tax & Budget
Blog · September 19, 2023

Since he was elected to the South Carolina Senate in 2012, Senator Sean Bennett has been a strong, steady voice for comprehensive tax reform. Bennett is known for taking to the well of the Senate and laying out his very specific concerns about how our current tax code is unfair, unstable and uncompetitive. Two of

Introducing Fiscal Facts 2023

Tax & Budget
Blog · March 2, 2023

Earlier this year, Palmetto Promise Institute published our Palmetto Freedom Agenda, 23 policies to make South Carolina an even better place to live, work, and raise a family. Today I am pleased to deliver to you a “beta” edition of Fiscal Facts 2023: Data to Support the Palmetto Promise Freedom Agenda. This publication is chock-full

Feed the Pig

Tax & Budget
Blog · October 27, 2022

In our Palmetto Playbook, we decided to take on fiscal policy more aggressively. After all, what policy area is more crucial to the future of South Carolina than how the state handles its money?  Since then, we have been writing about fiscal responsibility regularly.  Thanks for your positive response! Our Playbook look back at state

The Rest of the Tax Cut Story

Tax & Budget
Blog · October 13, 2022

During its 2021-22 session, the South Carolina General Assembly passed a cut in the personal income tax rate. Whew! Finally, the highest marginal personal income tax rate in the South (7%), which has never been cut since its adoption in 1959, is headed for extinction. That’s great news. It was also good to see the