S.C. House Passes "Conservative and Cautious" State Budget
The budget may not be finalized until June.
Despite uncertainty about the state of the economy due to the pandemic, the State House of Representatives this week approved a new state budget package. Rep. Murrell Smith, R-Sumter chairman of the House’s budget writing committee, says the House adopted what he calls a “worst case scenario budget” appropriating just under $200 Million in additional tax revenue which is well below the pre-pandemic projection of close to $1 Billion in new revenue.
However, Smith and other legislative leaders anticipate a significant increase in state revenue after tax filing in May, and don’t plan to finalize the almost $10 Billion budget until this summer.