Coronavirus Causes Uncertainty for South Carolina's State and Local Governments
South Carolina Governor Henry McMaster announced this week that some retail businesses in the state are being allowed to re-open. McMaster hopes the loosening of restrictions on certain retail businesses will re-ignite the state’s economy which prior to start of the pandemic was booming. With thousands of businesses closed, and thousands of people out of work business transactions have slowed tremendously. As a result, anticipated tax revenues for local and state government are expected to drop dramatically.