Senator from Beaufort advocates for increasing tax credit caps in South Carolina

March 12, 2025 | Finance, Standing, Senate, Committees, Legislative, South Carolina


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Senator from Beaufort advocates for increasing tax credit caps in South Carolina
During the Senate Finance Committee's Budget Hearing on March 12, 2025, a significant discussion emerged regarding the administration of a $3.5 million fund aimed at supporting organizations focused on unplanned pregnancies in South Carolina. A key point raised was the need for greater transparency and clarity in how funds are allocated among different organizations, particularly as the budget is proposed to expand to $10 million.

One committee member emphasized the importance of making data publicly available to track which organizations benefit most from the funding. This transparency would help ensure that resources are effectively distributed among various projects, potentially splitting future allocations evenly among them.

Additionally, the discussion highlighted the need for meaningful tax credits related to these initiatives. A suggestion was made to avoid capping tax credits at low amounts, such as $50, which could diminish their impact on taxpayers. Instead, a call was made for more substantial credits, with a proposed minimum of $3,000, to encourage donations and support for organizations assisting individuals facing unplanned pregnancies.

The committee was urged to commit to ongoing improvements in this policy, recognizing its potential to significantly aid those in need across South Carolina. The meeting underscored a collective desire for a more effective and impactful approach to funding and supporting vital community services.

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