With A Strong Economy, South Carolina Weathers Pandemic Despite Falling Revenue
This story is part of an NPR nationwide analysis of states' revenue and budgets during the pandemic.
South Carolina's exceptionally strong economy over the last two fiscal years has allowed the state to weather the pandemic with little budget disruptions to date.
In April, the Board of Economic Advisers reduced its current anticipated revenue estimate for the fiscal year that began July 1 by $507 million, but state budget writers have the cushion of nearly $2 billion in surplus funds from past years.
With the legislative session suspended by the pandemic, lawmakers approved a temporary spending bill in March to keep state government operating at current levels until members return to the state capital in September to finalize the spending plan.
There are no indications yet of budget cuts, but state colleges and universities are bracing for possible reductions.
Copyright 2021 South Carolina Public Radio. To see more, visit South Carolina Public Radio.