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.
