South Carolina’s budget increased cumulatively more than the maximum rate of population growth plus inflation in state funds and all funds from 2016-25, meaning taxes are higher than the average taxpayer can afford.

  • The 2025 state funds budget is $6.5 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent $25.0 billion too much.
  • The 2025 all funds budget is $9.7 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent $46.6 billion too much.

State Funds Budget Data

  • Estimated FY 2026 Only State Funds Budget ($ Billions): $ 29.22
  • FY 2027 Only State Funds Budget Limit ($ Billions): $ 30.60
  • FY 2027 Only State Funds Budget Limit Growth (%): 4.72%
  • Cost per person of only state funds budgeting more than pop+inf over the last decade in 2025 budget: $ 6,107
  • Cost per family of 4 of only state funds budgeting more than pop+inf over the last decade in 2025 budget: $ 1,175
  • Cumulative cost per person of only state funds budgeting more than pop+inf over the last decade from 2016-25: $ 4,482
  • Cumulative cost per family of 4 of only state funds budgeting more than pop+inf over the last decade from 2016-25: $ 17,927

All Funds Budget Data

  • Estimated FY 2026 All Funds Budget ($ Billions): $ 43.62
  • FY 2027 All Funds Budget Limit ($ Billions): $ 45.68
  • FY 2027 All Funds Budget Limit Growth (%): 4.7%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2025 budget: $ 9,140
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2025 budget: $ 1,740
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2016-25: $ 8,374
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2016-25: $ 33,497

Other Economic and Fiscal Considerations