House Ways and Means Chairman Issues BEA Statement
White will Introduce Supplemental Appropriations Bill
(Columbia, SC) – S.C. House Ways and Means Chairman Brian White (District 6-Anderson) issued the following statement prior to the next week’s Board of Economic Advisors meeting.
On Friday, May 29th, the B.E.A. meets to review the official estimate that state budget writers use to formulate the annual appropriations bill. In recent months, state revenues for the current fiscal year have consistently been higher than predicted and it is likely that the B.E.A. will increase the estimate due to higher than expected revenues. For the first time in seven years, the state of South Carolina will close this fiscal year’s books with general fund revenues that reach a pre-recession level.
“South Carolina’s economy is booming and indications are that the B.E.A. will certify a significant amount of additional money available to appropriate by the General Assembly. Since the general appropriations bill has already advanced through the legislative process and rather than have six representatives and senators attempt to spend a large amount of new money in conference committee, I plan to introduce a supplemental appropriations bill on Tuesday. A thorough vetting by the entire General Assembly though the normal budget process will allow the House and Senate the opportunity to discuss and debate how this new money should be appropriated,” stated Chairman White.