S.C. revenues meet expectations
State economists said S.C. revenues were meeting expectations Thursday, heading off the need to reduce budget projections.
Two days after a budget panel cut $238 million from state agencies, the Board of Economic Advisors saw no need to become the Grinch a week before Christmas.
November revenues increased by 5.8 percent, or $25.5 million, from November 2008, the first month-over-month increase this calendar year. Overall revenues are down 6.5 percent, or $165.8 million, from the previous fiscal year.
Income tax collections were up 14.5 percent in November, or $36 million, but state economists said seasonal and other layoffs over the next few months could change that trend. "The economy is really moving sideways," said BEA analyst Robert Martin. "It's not really going up or down."
But no news from the BEA is good news for lawmakers who will return to Columbia in January facing massive budget questions.
E-mail this story
Printer-friendly version
Comments
Use the comment form below to begin a discussion about this content.
Notice about comments:Postandcourier.com is pleased to offer readers the enhanced ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Postandcourier.com does not edit user submitted statements and we cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not postandcourier.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website. Read our full Terms and Conditions.
Users can now build user-to-user connections, follow friends' recent posts, add an avatar that fits their personality, and more. If you have posted here before you'll need to sign up again, or if you've never posted before, start now by signing up!
- Most Commented
- Most Emailed
- Shared
- Upper King on rise: Hotels, apartments, restaurants changing face of downtown area
- Missing woman case gets murkier
- Missing woman's fiance found dead in his home
- Isle of Palms wants to patch beach
- Advocating for cyclists
- Body of missing woman's fiance was found near handgun
- DAVID SLADE: S.C. offers hybrid car tax credit
- Facebook posts may cost you a job
- Pinterest: Pinning hopes and dreams
- Boeing powering up first local jet
