H.3081 would create a “Poverty Elimination Bank” and require the General Assembly to appropriate funds to it every year. The bank would also be added to the list of funds to which individuals may donate their income tax returns. Fund revenue would be used for the vague purpose of funding “poverty reduction initiatives.” It should go without stating diverting taxpayer dollars to yet another slush fund with no clearly defined purpose is abysmal fiscal policy.
By South Carolina Policy Council
Since 1986 the South Carolina Policy Council Education Foundation has advocated innovative policy ideas that advance the principles of limited government and free enterprise. The Policy Council is the state’s meeting place for business leaders, policymakers, and academics – as well as engaged citizens – who want to see South Carolina become the most free state in the nation. For questions or comments on the articles on this website, please email Research Director Jamie Murguia.