SC economic advisers make no change in projections

Associated Press

COLUMBIA, S.C. (AP) - State economic advisers say their tax collection projections for South Carolina are on target.

The Board of Economic Advisors made no changes Thursday in its revenue projections. That means the Senate Finance Committee gets no additional money to spend as members craft their state budget proposal for the fiscal year starting July 1.

Chief Economist Frank Rainwater says the state's economic outlook is positive.

State coffers have $63 million more than estimated through March. But Rainwater told board members much of that is due to the timing of tax season this year. Personal income taxes are a major source of state revenue. The annual filing deadline was Tuesday. Rainwater says refunds going out to taxpayers will bring earlier estimates in line.

The board does not meet again until May 21.

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