A TABOR at Heart: South Carolina's H. 3295 Spending Cap Proposal


 

Publication Date: March 2007

Publisher: Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Karen Lyons

Research Area: Banking and finance

Keywords: Economic projections; State budgets; Tax code; Income diversity

Type: Report

Coverage: Colorado

Abstract:

A proposed bill in South Carolina to limit state spending — H. 3295 —  contains the core element of Colorado’s Taxpayer Bill of Rights (TABOR).  It limits spending using a formula based on population growth plus inflation.  H. 3295 can therefore be expected to cause a deterioration in public services in South Carolina similar to that produced by TABOR in Colorado.