Budget Proposal Includes Flood Relief for Farmers, Tax Cuts
COLUMBIA, S.C. (AP) — A $7.5 billion budget proposal heading to the House floor provides $40 million to flood-devastated farmers, cuts income taxes by $130 million and designates $250 million for road projects.
The Ways and Means Committee on Thursday approved its spending plan for the fiscal year starting July 1.
The plan also includes an additional $375 million for kindergarten-through-12th-grade education. A $130 per-pupil increase in the “base student cost,” boosts that main funding source for schools by $218 million.
The spending plan also forgives $12 million in loans to South Carolina State University in Orangeburg. But the historically black university must meet certain conditions, including a yearly increase in enrollment and have a balanced budget.
Republican Rep. Jim Merrill says that will help SC State keep its accreditation and stay open.