South Carolina ‘Republicans’ Talk A Big Game On Tax Cuts

There is no good reason not to lower the top marginal income tax rate to about 4% if not 3.5%. The number of upper middle class people pouring into our state from the Northeast and Midwest over the last 10+ years has increased the tax rolls and revenue derived thereby in a huge way- well offsetting the increase in state services required to accommodate the growth. But the comments about the “1.8B” are premature. There is/was a dispute about whether it was actual cash or not, and whether or not there were offsetting obligations of some combination of state agencies that could have eaten up or even eliminated that “surplus”- so the forensic audit was warranted and the decision to wait to do something with that amount was wise.