Yesterday, the SC House of Representatives adopted its amendment to the FY2012-2013 state spending plan in preparation for the budget being sent to a joint House/Senate Conference Committee to be finalized.
The House returned the spending back to the core of the original version unanimously adopted by the House in March and addressed a few additional items – fully funds the Small Business Income Tax Cut (4 years ahead of schedule), fully funds the Port of Charleston Harbor Deepening Reserve Fund, gives law enforcement officers and teachers pay raises all while coming in under spending caps supported by both the House and the Governor.
House Speaker Bobby Harrell issued this statement about the budget amendment:
“This is a solid, fiscally conservative, balanced spending plan that limits government growth while responsibly planning for our state’s economic future. Coming in well below proposed spending caps, this budget provides $700 million in tax relief, funds education in the classroom, pays down state debt and fully funds the Harbor deepening project that will keep our state competitive. We worked hard to protect our state’s taxpayers and limit government growth by focusing on core functions of government.
“Chairman Brian White and the rest of the Ways & Means Committee did an excellent job of working with House Members on a budget that received unanimous approval back in March. The House’s amended budget shows South Carolinians that we are serious about making sure our state stays competitive and helping our small businesses create jobs. The Ways & Means Committee and the Members of the House have produced a plan that we can firmly stand behind as we head into the budget conference committee.”
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Dredging Today Staff, June 7, 2012;