May 21, 2014 at 10:28 PM
South Carolina's economic advisers have increased their revenue projections by nearly $86 million.
The Board of Economic Advisers voted unanimously Thursday to recognize that state coffers are collecting more money than it projected earlier. The approved adjustments include an additional $46 million in taxes and $11 million in lottery profits being collected this fiscal year. That can be used for one-time expenses.
For the fiscal year starting July 1, the board increased projections by $21.6 million in taxes and $8 million in lottery profits.
The adjustments come before the House and Senate begin hashing out differences in their $7 billion spending plans for 2014-15.
They could smooth debate over the major differences, which include whether to expand full-day 4-year-old kindergarten and how much aid to give local governments.