“The problem, I think, is how this whole thing has been handled out of the governor’s office by making promises that say we don’t need the Legislature. This is a horrible way of doing business.”
— House Ways and Means Chair Brian White, R-Anderson, in a rebuke of GOP Gov. Nikki Haley for promising to use economic development bonds to pay for Volvo incentives. Because of the way the deal is structured to have some years of interest-only payments on the bonds, taxpayers will pay millions more in interest than through traditional bond borrowing. More.
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