Our weekly Top Five feature offers big stories or views from the past week or so with policy and legislative implications that you need to read because of how they could impact South Carolina. If you have stories to suggest to our readers, send to: feedback@statehousereport.com.
- Legislature sits on budget vetoes until January, The Post and Courier, June 29, 2017
This story highlights that the legislature won’t consider overriding $56 million in state spending until it returns in January. And while some complain that it leaves uncertainty for some projects for the next six months, about half of the money would be spent for new school buses – if excess funds come in, which won’t happen until next spring.
“But it will delay votes that would decide: if $350,000 in art-related grants and $3.25 million in sports marketing grants can be distributed; whether $20.5 million in excess lottery proceeds is put toward the state’s aging fleet of buses; and if the Commission on Higher Education is stripped of its authority to review college construction projects. “
- State needs to deal with teacher exodus, editorial in the Rock Hill Herald, June 27, 2017
“If South Carolina wants to attract teachers and keep them in the classroom, it has to offer competitive salaries and added incentives to teach in poorer school districts that can’t supplement teacher pay to the extent that wealthier districts can. The state also needs to find ways to persuade more young people to pursue teaching as a career.
“Phasing out the TERI program will contribute to what is likely to be a serious shortage of teachers and other public workers. But armed with that knowledge, lawmakers should be able to take steps to stem the exodus and bring new people into the system.”
- Chinese companies like South Carolina, The State, June 27, 2017
In recent months, three Chinese companies announced plans that will create 2,000 jobs in the Midlands – Wanli, which will make tires in Orangeburg; and Jushi and Hengshi, both of which will make fiberglass products in Richland County. An excerpt:
“Chinese firms are investing here for the same reasons other foreign companies do: They avoid import taxes on goods produced here and enjoy the state’s low taxes, affordable wages, a friendly business climate and a world class port in Charleston.
“’They can produce in South Carolina at the right cost,’” said Wally Wang, a China native and University of South Carolina graduate who serves as the S.C. Commerce Department’s senior project manager for recruiting Chinese firms.”
- Study: Tax cuts don’t lead to economic growth, The Atlantic, Sept. 16, 2012
This article is almost five years old, but it might be good for people who believe that cutting taxes is a major tool in fueling economic growth. This Congressional Research Service study of 65 years of economic data says cuts don’t necessarily lead to growth. An excerpt:
“Analysis of six decades of data found that top tax rates ‘have had little association with saving, investment, or productivity growth.’ However, the study found that reductions of capital gains taxes and top marginal rate taxes have led to greater income inequality. Past studies cited in the report have suggested that a broad-based tax rate reduction can have ‘a small to modest, positive effect on economic growth’ or ‘no effect on economic growth.’”
- VIDEO: Senator says secular and religious communities can work together, Aspen Ideas Festival, June 26, 2017
Take a look at this four-minute video about this idea from U.S. Sen. Chris Coons, D-Delaware:
We Can Do Better, South Carolina!