More good economic news as SC collects $421M more in taxes

South Carolina News

(AP Photo/Jeffrey Collins)

COLUMBIA, S.C. (AP) — South Carolina continues to have more money to spend because the state is collecting more tax money than expected as the economic impact of COVID-19 is less than predicted.

State economists say about $421 million more than predicted rolled into the state’s bank accounts through April, which accounts for 10 of the 12 months of this budget year.

The continued good news has lawmakers no longer making dire warnings like they did last summer of barely hanging on or even bracing for cuts in programs and employees.

The budget passed by the Senate includes more than $1 billion in spending.

The House will consider the July 2021 to June 2022 spending plan in a special session next month.

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