The state of South Carolina has an extra $1 billion in the bank and Governor Henry McMaster wants to give some of it to the state’s taxpayers.
In his budget proposal released Tuesday, McMaster requested that $200 million in surplus revenue be issued to all state residents who file their income taxes before October 15, 2019.
“I’ve asked the legislature in this executive budget to do something we’ve never done before,” McMaster said. “This is more than we expected. So this is the right year to make good on that promise and to return that tax money to the citizens who paid it in.”
McMaster also endorsed a five percent across-the-board pay raise for South Carolina teachers, bringing the average teacher salary to $53,185. The pay raise would cost an additional $155 million, he said.
His plan also includes a $10 base student cost increase, $46.3 million to help place school resource officers in every school which does not currently have them, $2.2 million to provide for mental health counselors and $5 million for new school bus leases. [Read more…]