Full Senate Finance passed their version of the budget today.  

Some highlights of the budget include: 

• Manufactured tax rate will stay at 6% via proviso
• Military retirement will not get taxed
• General Fund budget is just under what was spent last year by $2 billion (this is due to other bills passing with tax cuts)
• Teacher salaries will be increased to $48,500
• Increases for state employees. – minimum 2% but average will be 3% and covering health insurance increases (House did an increase of roughly $35 per family member covered)
• 37,881 FTE’S in the budget.  .70 employees per 100 people in the state
• 1.226 billion in reserve funds
• Will take tax rate down to 6% which costs roughly $300 million.(only earmark coming out of the Senate budget)
• Cut $600 million in agency recommendations from the subs 
• $100 million for bridge funding at DOT and $25 million for Helen Clean Up
• $5 million recurring at DMV for their new computer system.
• No new Be pro Be Proud dollars.  
• Since the budget was made final by SFC the chairman of House Ways and Means the Chairman of Senate finance issued a joint statement that no earmarks would appear in the budget this year and that any dollars would go to tax relief.  

Complied by CRMCA South Carolina Lobbyist Ben Homeyer.