Tag Archives: surplus

SC roads get ‘D’ grade as major repair projects remain unfinished

September 10, 2021

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By RICK BRUNDRETT South Carolina will need almost $43 billion more by 2040 to fix its bad roads and handle increased traffic with projected growth, according to the American Society of Civil Engineers, which gave the state’s roads a “D” grade in its annual infrastructure report card. Meanwhile, the S.C. Department of Transportation continues to […]

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The $5 billion surplus officials don’t talk about

September 8, 2021

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By RICK BRUNDRETT Out of this fiscal year’s $32.5 billion state budget, more than a third of it – nearly $12.3 billion – is made up of “other” funds. “Other” funds include such things as fees and fines, college tuition, lottery proceeds, state gasoline taxes, and part of the state sales tax earmarked for K-12 […]

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Fiscal ‘21 ends with huge gas-tax-hike surplus amid unfinished projects

August 6, 2021

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By RICK BRUNDRETT Stuck in a pothole. For the fiscal year that ended June 30, a special fund created with the 2017 state gas-tax-hike law had an $896.1 million surplus – a 50% increase compared to the end of fiscal 2020, records show. Total collected revenues also grew by about the same rate over the […]

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Few S.C. bridges fixed with gas-tax-hike money

July 9, 2021

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By RICK BRUNDRETT Only three bridge projects have been completed in South Carolina with the nearly $2 billion in revenues collected under the 2017 state gas-tax-hike law, recently released transportation department records show. And although the S.C. Department of Transportation has identified 465 out of 750 “structurally deficient” bridges statewide to be replaced, other agency […]

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Earmark secrecy continues as state budget goes into effect

June 30, 2021

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By RICK BRUNDRETT In vetoing 226 budget earmarks totaling $152.5 million, Gov. Henry McMaster last week wrote that the “bulk of these earmarked appropriations still lack sufficient context, description, explanation of merit, or justification as to how the recipient intends to spend the funds.” That might be one of the biggest understatements on how lawmakers […]

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Lawmakers approve massive state budget stuffed with pork projects

June 22, 2021

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By RICK BRUNDRETT Lawmakers on Monday sent a strong message in adopting a state budget for the fiscal year that starts next week. Let the spending party begin – with your tax dollars. The Legislature overwhelmingly approved a $32.3 billion total budget for fiscal 2022, which includes state, federal and “other” funds, budget records show. […]

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House poised to spend millions more on pork projects

June 8, 2021

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By RICK BRUNDRETT The S.C. House this week could pass a revised version of the fiscal 2022 state budget, which includes $1.8 billion in “new” state funding. But the total $32.1 billion budget version passed last week by the House Ways and Means Committee doesn’t authorize any refunds to state taxpayers. Budget writers, however, designated […]

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SCDOT says it will fix nearly 1,000 more miles of bad roads. More empty promises?

May 27, 2021

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By RICK BRUNDRETT Motorists likely will feel plenty of bumps this Memorial Day weekend as they drive over South Carolina’s seemingly endless pothole-riddled roads. Since the state gas-tax-hike law took effect nearly four years ago, The Nerve has repeatedly pointed out the S.C. Department of Transportation’s relatively slow pace of completing paving projects while sitting […]

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Millions more proposed for Senate, House chambers under state spending plan

May 12, 2021

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SC Senate Chamber

By RICK BRUNDRETT The Senate’s version of the state budget for the upcoming fiscal year includes more than $1.2 billion in surplus money, though none of it would be refunded to taxpayers. Instead, senators would spend $4.2 million of the windfall on its own chamber and give another $2.2 million from the surplus to the […]

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Gas-tax-hike piggy bank keeps growing fatter

April 30, 2021

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By RICK BRUNDRETT Through March, a special fund created with the state gas-tax-hike law had a cash balance of nearly $824 million and racked up more than $26 million in investment earnings on surpluses since July 2017, records show. The $823.8 million surplus in the “Infrastructure Maintenance Trust Fund” as of March 31 represented nearly […]

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