SC Economic Advisors Getting More Bad News

COLUMBIA, S.C. (AP) - South Carolina’s economic advisers are expected to get more bad news on the state’s tax collections.

The Board of Economic Advisors meets Thursday to gauge whether sales and income tax payments are keeping up with their projections.

But the state’s comptroller general earlier this week reported individual income tax collections are down 16 percent for the fiscal year from a comparable period a year ago and sales tax collections are off nearly 9 percent.

Overall revenues are off by about $756 million or nearly 13 percent for the fiscal year.

Bad budget news has been a staple as more than $1.2 billion has been cut from state spending since July. A shortfall as the fiscal year ends June 30 could force the state to tap a reserve account.