BRACK:   The General Assembly isn’t filled with policy Einsteins

By Andy Brack, editor and publisher  |   The list of recent big policy failures by the South Carolina General Assembly is downright impressive.

First is transportation infrastructure, which got into a deplorable condition during the 28 years it took state lawmakers to raise the gas tax so it could deal with $40 billion of highway needs, potholes, bridges and deferred maintenance.  At least they finally boosted the gas sales tax this year to start fixing the problem.  But they’ll have to come back to it because they didn’t index the sales tax hike to inflation.

Next is the state’s pension system for employees, which rang in as a $24 billion problem.  A few years back, lawmakers decided to raise the expected return on investment to a completely unrealistic level.  As a result – and in combination with the Great Recession and a whole bunch of really bad investment decisions – the value of the pension fund sank like a lead balloon.

by · 08/11/2017 · Andy Brack, Commentary