Taking pride in South Carolina’s balanced budget

I’m writing this month about something really important to all of us here on Hilton Head Island – how we handle our finances at the state level in South Carolina as compared to what’s been going on at the national level.

Indeed, when we look at the federal government, it’s very concerning. At the Federal level, it has been 24 years since Congress managed to balance the national budget.

Can you imagine? The last time that happened was back in 2001, and at that time, our national debt stood at $5.8 trillion. Fast forward to today, and it’s a completely different story. Our national debt has ballooned to an astonishing $36.5 trillion! That’s a 630% increase, which, frankly, is unsustainable.

Now, let’s bring it back home to South Carolina, where we do things differently, and I think we can all take pride in that.

Every year, the South Carolina General Assembly passes a budget that’s not just a bunch of numbers, but a balanced one. We live within our means. We don’t spend more than we take in. And it gets even better. We’re committed to saving for a rainy day, always making sure to put away the maximum in our state’s savings fund. Plus, our state government’s debt? It’s minimal.

That’s fiscal responsibility that protects South Carolina’s future, and I believe sets an example worth following.

This Year’s State Budget

Right now, we are addressing issues related to the 2025-26 budget in the House. Probably the most significant is our state’s growth.  We are currently the third fastest growing state in the nation by population increase and the fastest based on percentage of population growth. That means we need to be mindful of spending more to keep pace and improve our quality of life.

The House Ways & Means Committee has just passed a preliminary budget totaling $14.6 billion. It is the largest budget we have had, and as I said, it is preliminary and must pass the entire House and Senate for consideration before it is finally put to bed in May.

Here are our top three priorities. Other priorities will be discussed in my future columns:

1. Meaningful Tax Cuts: More than $1 billion in tax cuts are included in the budget ($800 million in property tax relief and $200 million in income tax relief).

2. K-12 Teachers:  A proposed $112 million will provide teachers with a $1,500 salary increase, raising starting salaries to $48,500, which keeps us on track with our goal of reaching a $50,000 starting salary by 2026. We believe this will address the serious teacher shortage we are dealing with around the state.

3. Hurricane Recovery: Hurricane Helene ravaged much of our state last September, and this new budget provides $222 million to match FEMA funds. SCDOT has removed more than 4 million cubic yards of debris, and all affected roads and bridges are now under contract for emergency repair. There is also $38 million to the state’s Office of Resilience to replenish the disaster relief fund so S.C. will be prepared for future disasters.

Jeff Bradley is the representative for District 123 in the State House of Representatives.