STATE OF SOUTH CAROLINA
OFFICE OF THE GOVERNOR
MARK SANFORD, GOVERNOR

FOR IMMEDIATE RELEASE
Contact: Will Folks 803-734-2100

SANFORD: "LET THE PEOPLE DECIDE" WHETHER GOVERNMENT SHOULD
GROW FASTER THAN THEIR ABILITY TO PAY FOR IT

Columbia, S.C. - June 3, 2005 - Gov. Mark Sanford today unveiled the "Taxpayer Empowerment Amendment of 2006," a Constitutional Amendment that would let the voters of South Carolina choose whether or not government should grow at a rate faster than their ability to pay for it. If successful, the Amendment could result in billions of dollars being refunded back to the taxpayers of this state to fuel economic growth, all while protecting state government against economic downturns and keeping the growth of government consistent with growth in population plus inflation.

"Whether you agree with the legislative approach that grew government by over 9% this year or whether you agree with us that government should learn to live within its means the way working South Carolina families and small businesses do, at the very least your voice deserves to be heard," Gov. Sanford said. "This amendment would let the people decide whether government should grow faster than their ability to pay for it or whether more of that money should go back into our state's economy where it will create jobs and economic activity."    

South Carolina's growth in population plus inflation has averaged 3.8% since 1997. Had a Constitutional Taxpayer Empowerment Amendment similar to the one proposed today by Gov. Sanford been in place over that time period, $2.5 billion dollars would have been rebated to the taxpayers. Additionally there would have been no mid-year budget cuts during periods of economic downturn, no money would have been borrowed from trust and reserve funds and the state would not have incurred a $155 million unconstitutional deficit in Fiscal Year 2001-02.

Under Gov. Sanford's proposed amendment, general fund growth in any given year would be limited to growth in population plus inflation, with the excess refunded to the taxpayers the following fiscal year. The excess surplus would be held back during each fiscal year in the event general fund revenue did not grow at a rate equal to population plus inflation to avoid budget shortfalls.    

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Will Folks
Press Secretary, Governor Mark Sanford
803-734-5258 (office)
803-734-6447 (facsimile)
803-446-6713 (mobile)
[email protected]
www.scgovernor.com