Tag Archives: State Transportation Infrastructure Bank

COVID-19 hasn’t infected massive gas-tax-hike surplus

May 22, 2020

0 Comments

By RICK BRUNDRETT Despite reduced traffic in South Carolina over the past two months resulting from government-ordered shutdowns, a state surplus under the 2017 gas-tax-hike law continued to grow while most major paving projects went unfinished, newly released records show. Through April 30, the state collected $1.2 billion under the law, which could cover nearly […]

Continue reading...

Lawmakers ignoring $500M piggy bank to fix SC’s bad roads

February 28, 2020

0 Comments

By RICK BRUNDRETT While House budget writers have designated an extra $100 million next fiscal year for paving rural roads statewide, the S.C. Department of Transportation is sitting on a separate surplus of more than a half-billion dollars, newly released DOT records show. As of Jan. 31, a special fund created with the state gas-tax-hike […]

Continue reading...

First 2.5 years of gas-tax-hike law: Revenues far outpace completed projects

January 31, 2020

0 Comments

By RICK BRUNDRETT No paving projects were completed between the end of November and December with gas-tax-hike funds in 37 of South Carolina’s 46 counties, though the state had nearly a half-billion dollars in available cash for those projects, records show. In the first two-and-a-half years of the gas-tax-hike law, a total of $1.04 billion […]

Continue reading...

Hundreds of unfinished paving projects in SC despite huge gas-tax-hike surplus

January 10, 2020

0 Comments

By RICK BRUNDRETT Although nearly $1 billion has been collected since the state gas-tax-hike law went into effect more than two years ago, the S.C. Department of Transportation has completed less than 20% of identified paving projects statewide with those funds, newly released agency records show. The Nerve’s latest review found that of a total […]

Continue reading...

Relatively little gas-tax-hike money spent on major road-rebuilding projects

December 4, 2019

0 Comments

By RICK BRUNDRETT Last week, the S.C. Department of Transportation announced that it had completed rebuilding a nine-mile stretch of Interstate 85 in Spartanburg County. Yet as of Oct. 31, DOT had completed just 17% of the total estimated cost of other identified “pavements” projects in the county with gas-tax-hike revenues, newly released agency records […]

Continue reading...

SCDOT still sitting on huge gas-tax-hike surpluses; few major projects completed

November 20, 2019

0 Comments

By RICK BRUNDRETT For the fiscal year that starts next July 1, the state Department of Transportation wants renewed authority to spend surplus money – at least that’s what the agency requested as part of its proposed 2020-21 budget. As of June 30 of this year, the department had $1 billion in “other” fund reserves, […]

Continue reading...

Millions from civil settlements paid to S.C. AG’s Office, outside law firms

November 6, 2019

3 Comments

By RICK BRUNDRETT Over the past four fiscal years, the state Attorney General’s Office settled 33 civil cases against various companies for a total of nearly $210 million, though agency records show that the proceeds typically didn’t go directly to affected South Carolina consumers. Instead, most of the money was used by lawmakers to help […]

Continue reading...

The $4 billion piggy bank hidden from South Carolinians

October 23, 2019

0 Comments

By RICK BRUNDRETT As state agencies prepare their proposed fiscal 2020-21 budgets, what they likely won’t reveal is the amount of “other” fund surpluses carried over year after year – collectively billions of dollars. As of June 30 – the end of the 2018-19 fiscal year – state agencies and divisions, plus several major state […]

Continue reading...

SCDOT continues slow pace of road repairs with gas-tax-hike money

September 18, 2019

0 Comments

By RICK BRUNDRETT With the start of the third year of the state’s gas-tax-hike law, the S.C. Department of Transportation had completed less than 16% of $711.4 million in identified “pavements” projects statewide, newly released DOT records show. The Nerve last month revealed that DOT plans to complete about 2,300 miles of road repairs by […]

Continue reading...

S.C.’s massive debt load partly based on misleading state finance report

March 15, 2019

0 Comments

By RICK BRUNDRETT When it comes to debt, the state of South Carolina is swimming in billions of it. Yet an important report on the state’s finances, issued by Comptroller General Richard Eckstrom – the state’s chief accountant – and considered a key document by credit rating agencies in evaluating state debt, according to an […]

Continue reading...