South Carolina’s budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford.

  • The 2023 state funds budget is $4.9 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 and taxed $13.0 billion too much.
  • The 2023 all funds budget is $10.5 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $25.5 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $24.60
  • FY 2025 Only State Funds Budget Limit ($ Billions): $26.29
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 6.90%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $907
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $3,627
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $2,422
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $9,687

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $40.58
  • FY 2025 All Funds Budget Limit ($ Billions): $43.38
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 6.90%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: 1,945
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: 7,779
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: 4,754
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: 19,015

Other Considerations