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
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
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
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.
Americans for Tax Reform’s Patrick Gleason writes in Forbes about South Carolina's income tax cuts, quoting PPI senior fellow Dr. Oran Smith.
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.
