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Failed gas tax cut plan risks state bonds and credit rating
The planned 16.8 cent gas tax suspension faced bond counsel warnings that lost revenue could threaten the SCTIB bonds and future borrowing. Officials noted bond contracts require steady receipts to repay debt, and a shortfall could lower the state's credit outlook. Lawmakers debated offsetting surpluses and constitutional borrowing limits amid ongoing budget talks.
MENTIONED IN THIS ARTICLE
Columbia
Mark Sanford
Uigrees
Sawyer
Sanford
House
Senate
South Carolina Transportation Infrastructure Bank
Wayne Corley
McNair Law Firm
Bank
SCTIB
Corley
Senate Finance Committee
Hugh Leatherman
Florence
Standard & Poor
Leatherman
Eric Shytle
Haynsworth Sinkler Boyd