The South Carolina Club for Growth urges all Representatives to vote YES on any amendment that removes Part III, which bonds out almost $500 million for projects around the state.
Part III of the budget was introduced and adopted at the last minute by the Ways and Means Committee with little public discussion. With a total budget of over $24 billion it is tough to have an open discussion on every item. However, Part III should have received more scrutiny and more time for the public to review it before it was added to the budget.
No financial advisor would tell their client to pay off a credit card then max it out the next day – yet this is exactly what is being done with Part III. We have been told that the state will, “pay off a large portion of its debt portfolio in the next few years.” This is great news, but this is a horrible reason to pass a bonding bill spending almost half a billion dollars.
Responsible spending has been a focus of the South Carolina Club for Growth since our founding. Any amendment that removes part III from the budget will be scored heavily on the 2015 Club for Growth Foundation’s Scorecard.