News and Press Releases for February 2006

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02/17/2006

Gov. Sanford Issues Statement on BEA Estimate

Governor Says Revised Estimates Bode Well for Economy, Surplus Doesn't Change Need to Hold Line on Spending

Columbia, S.C. - Gov. Mark Sanford today issued the following statement on the Board of Economic Advisors' revised estimate of $237 million in tax revenue over the previous projections:

"One, I think these numbers speak for themselves when it comes to what's really going on with respect to our economy," Gov. Sanford said. "But regardless of how much additional money comes in this year, it doesn't change the fact that we need to repay trust and reserve funds first, hold the line spending at the state level, and use what's left over to pay a dividend back to the taxpayers. In our Executive Budget, by holding spending increases to population plus inflation we were able to return $150 million back to the taxpayers, and this new money could increase our tax rebate from about $150 per family to almost $400 per family. I'd challenge budget writers in the House and Senate to as well put this additional money back into the hands of hardworking South Carolinians so we can grow the economy, not government."