State Budgets: South Carolina Cuts Spending, Considers Tax Reform Plan
In December, the South Carolina State Budget and Control Board (a unique entity that administers state government in lieu of the Governor) ordered a $383 million across-the-board reduction in state spending to balance the $7 billion budget. Since July, ordered cuts have totaled $1 billion. Legislators are going without travel and expense payments. Gov. Mark Sanford (R) has proposed a tax reform plan designed to improve the state’s long-term economic growth while remaining revenue neutral for the short-term.
More on South Carolina here.
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