South Carolina’s public schools reported $534 million in revenues lost to corporate tax abatements in FY 2021, an increase of 65% compared to just four years earlier. In the five years such reporting has been required, South Carolina schools have lost a total of $2.2 billion. No other state in the nation reports that much school revenue lost to corporations. It means less money for early childhood education, smaller class sizes, public health, emergency medical assistance, community centers, roads, sanitation, and other vital services.
The Revenue Impact of Corporate Tax Incentives on South Carolina Public Schools 2017-2021
May 2022