The South Carolina Senate as voted to approve half a million dollars in tax exemptions for certain industries locating in the state. But Beaufort County Republican Senator Tom Davis argued against the bill’s final reading, saying that the exemption was only for one company and he said that the Florida company announced almost two years ago that it definitely would locate a facility in South Carolina, and that it would employ 20 people. Davis says the exemption will benefit The Institute for Business and Home Safety, a wind tunnel facility. And Davis says as far as he knows, the 20 employees who will be working at the facility will be coming from Florida.
Senator Davis says that in the past decade, special tax breaks doled out by state lawmakers have increased from $32 million a year up to $254 million. Davis says other taxpayers have to make up for those exemptions.
Davis says that it doesn’t make any sense to him.
(Davis on exemptions Mp3 2:30)
Davis on exemptions Mp3 2:30
Davis says there are now 377 lobbyists registered at the statehouse representing 534 companies and organizations, and many of them have pushed for special tax treatment.
Davis said it’s ironic that the exemption was drafted by the chairman of the Tax Realignment Commission(TRAC), which is analysing the state’s tax structure, including exemptions.