Tax and Expenditure Limitations (TELs)

An effective Tax and Expenditure Limitation (TEL) in South Carolina would be a constitutional restraint that allows for annual government growth in spending as a function of population growth and economic inflation. Revenues collected beyond this limit would be used towards both an emergency fund and a reserve fund, with excess being returned to the taxpayers. The measure would cover all streams of revenue and expenditures at every level of government in the state.

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Category: Taxes & Regulation · Tags: