The Senate’s response to fiscal Sanity? Delete. The Senate is wrapping up their budget debates…So far it is $100 million more than the House version. Here’s a quick look at…
In our examination of the Senate Finance Committee’s budget – being debated right now in the South Carolina Senate – a few more provisos caught our attention. Here are a…
What are Budget ‘provisos’? Provisos are lines in the state budget that give temporary authorizations for the use of state money. Like federal earmarks, they’re usually inserted into the budget…
Government-driven economic development is a secretive process in which politicians give away tax exemptions, subsidies, and other taxpayer-funded incentives to private companies. Politicians “invest” tax dollars without disclosing any meaningful…
It’s business as usual in South Carolina. Out-of-control spending, over-regulation, and an out-of-touch Legislature determined to govern behind closed doors. And while we’ve cringed at political gaffs and ugly politics…
The Senate voted today not to concur with the amended House budget – meaning the state budget will head to conference committee. As part of our ongoing budget coverage, we’ll…
With the film industry clamoring for additional tax breaks, it is worth asking whether such targeted tax breaks actually work. As we’ve written before, targeted tax incentives do not result…
While media coverage of the budget this year has pointed to “the $5 billion budget,” “1,000 job layoffs,” and “unprecedented cuts,” the truth is that the budget is still growing…
Sponsored by House Speaker Bobby Harrell and 108 other representatives, the Economic Development Competitiveness Act is the product of Speaker Harrell’s economic development working group. This 49-page bill combines a…
Imagine a business plan based on overly optimistic results, an underreporting of costs and a desire to conceal essential data from key stakeholders. If the result does not sound promising,…
Fast Facts: South Carolina’s Sales Tax South Carolina needs sales tax reform that is equitable and encourages economic growth. The best way to achieve this goal is to lower…
Unleashing Capitalism A Prescription for Economic Prosperity in South Carolina FACT SHEET Capitalism (n): an economic system characterized by private ownership of capital goods and investments determined by private decision;…
As we review the best and worst economic development legislation of 2009, it’s also time to begin to consider what ideas are likely to resurface in 2010. Politicians in South…
Instead of playing games with tax credits and economic development boondoggles, the best way for the state to attract new business is to lower taxes. In particular, lawmakers should eliminate…
It would appear the “private” aspect of Innovista, originally touted as a “public-private partnership,” is all but dead. To date, USC’s research campus, which has cost taxpayers more than $100…
When plans for Innovista, the University of South Carolina’s 500-acre research campus, were rolled out in 2005, it was touted as a can’t-miss project that would become a driving force…
Governments apply excise taxes to private market transactions. User fees, on the other hand, are costs associated with a publicly owned good. While some user fees are calculated in accordance…
Senate Finance Committee Deletes Some of the House’s Best Budget Ideas
The Senate’s response to fiscal Sanity? Delete. The Senate is wrapping up their budget debates…So far it is $100 million more than the House version. Here’s a quick look at…
The ‘Incentives Game’ – what else are lawmakers giving away?
Here are just a few of the things legislators are doing right now in the name of ‘economic development.’
Budget Watch 2011: Provisos raising more questions
In our examination of the Senate Finance Committee’s budget – being debated right now in the South Carolina Senate – a few more provisos caught our attention. Here are a…
Budget Watch 2011: Yet more budget provisos that merit a second look…
Yet more budget provisos that merit a second look...
Budget Provisos | Fast Facts
What are Budget ‘provisos’? Provisos are lines in the state budget that give temporary authorizations for the use of state money. Like federal earmarks, they’re usually inserted into the budget…
The Incentives game
Government-driven economic development is a secretive process in which politicians give away tax exemptions, subsidies, and other taxpayer-funded incentives to private companies. Politicians “invest” tax dollars without disclosing any meaningful…
Special Legislative Report
It’s business as usual in South Carolina. Out-of-control spending, over-regulation, and an out-of-touch Legislature determined to govern behind closed doors. And while we’ve cringed at political gaffs and ugly politics…
Retail Incentives Set Stage for 2 Percent Sales Tax Increase
A few months ago it seemed as if the idea of handing out retail tax incentives was all but dead. But, be warned, the last week of session is the…
Budget Watch – Part I: The I-95 Corridor Authority
The Senate voted today not to concur with the amended House budget – meaning the state budget will head to conference committee. As part of our ongoing budget coverage, we’ll…
Lawmakers’ Hollywood Dreams Hurting Taxpayers: The Case Against Film Incentives
With the film industry clamoring for additional tax breaks, it is worth asking whether such targeted tax breaks actually work. As we’ve written before, targeted tax incentives do not result…
Fast Facts: Increased Fines/Fees Keeping Spending High
While media coverage of the budget this year has pointed to “the $5 billion budget,” “1,000 job layoffs,” and “unprecedented cuts,” the truth is that the budget is still growing…
Fact Sheet on H 4478: The S.C. Economic Development Competitiveness Act of 2010
Sponsored by House Speaker Bobby Harrell and 108 other representatives, the Economic Development Competitiveness Act is the product of Speaker Harrell’s economic development working group. This 49-page bill combines a…
Economic Incentives Could Cost Taxpayers for Years to Come
Imagine a business plan based on overly optimistic results, an underreporting of costs and a desire to conceal essential data from key stakeholders. If the result does not sound promising,…
Fast Facts: South Carolina’s Sales Tax
Fast Facts: South Carolina’s Sales Tax South Carolina needs sales tax reform that is equitable and encourages economic growth. The best way to achieve this goal is to lower…
Unleashing Capitalism Fact Sheet
Unleashing Capitalism A Prescription for Economic Prosperity in South Carolina FACT SHEET Capitalism (n): an economic system characterized by private ownership of capital goods and investments determined by private decision;…
The Best & Worst to Come: A Review of Economic Development Policy for 2009-2010
As we review the best and worst economic development legislation of 2009, it’s also time to begin to consider what ideas are likely to resurface in 2010. Politicians in South…
Fast Facts: South Carolina’s Corporate Income Tax
Instead of playing games with tax credits and economic development boondoggles, the best way for the state to attract new business is to lower taxes. In particular, lawmakers should eliminate…
Innovista: A Public-Private Partnership That’s All Public
It would appear the “private” aspect of Innovista, originally touted as a “public-private partnership,” is all but dead. To date, USC’s research campus, which has cost taxpayers more than $100…
Innovista: State-Driven Economy Struggling Despite $140 Million in Taxpayer Support
When plans for Innovista, the University of South Carolina’s 500-acre research campus, were rolled out in 2005, it was touted as a can’t-miss project that would become a driving force…
An Excise Tax is Not a User Fee
Governments apply excise taxes to private market transactions. User fees, on the other hand, are costs associated with a publicly owned good. While some user fees are calculated in accordance…