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
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
South Carolina is competitive on Corporate Taxes, and in recent years the Palmetto State has begun to chip away at high Individual Tax and Unemployment Insurance Tax rates.
It was the Affordable Care Act that promised to lower healthcare costs with the additional selling point “if you like your provider, you can keep it.” If BBB passes in its current form, middle class Americans will get a right hook to go with ACA’s left jab.
For years, Palmetto Promise has outlined the urgency of creating a tax system that is stable, competitive, and fair. The stars are aligning to make that happen if we can find the pedal on the right.
The leading symptoms are a penchant for tax raising and aversion to sunlight, the kind of sunlight that comes from being transparent with people trying to recover from a pandemic about how you are adding to their pain.
How does the Palmetto State stack up against the other 49 in terms of saving for fiscal catastrophes, both with emergency budget set asides and budget surpluses?
PPI senior fellow Oran Smith is quoted in this Center Square article on the South Carolina state budget. (The Center Square) – The South Carolina General Assembly adjourned its 2021 regular session last month but lawmakers will return to Columbia on June 8 for a special session to allocate as much as $5 billion in
The House is slated to return for a budget session on Tuesday, June 8, and there will be lots of candy in the window. Just look at what the budget writers have to play with for the fiscal year beginning July 1, 2021.
South Carolina is among the nation’s top magnets for new residents in recent years because the Palmetto State is a great place to live. Yet South Carolina’s outdated tax code holds the state back in the national and global competition for new business, jobs, investment and people.