Mark Sanford on Budget & Economy Republican SC Governor; previously Representative (SC-1)

Limit spending increases to population growth plus inflation

With our unemployment rate continuing to lag the national average, we will persist in our push for a lower income tax rate for all South Carolinians so we can reverse this trend. We have effectively the highest income tax rate in the Southeast and the 5th highest rate in the nation and we believe that a lower rate will give South Carolina a competitive advantage when it comes to attracting jobs and encouraging business start-ups. Whether attracting new jobs and capital or looking to grow from within, we must remain competitive with other states (Florida has no income tax) and other nations (even Russia & China are lowering rates) if we are to compete globally.

Supports balanced budget amendment & line item veto.

[As part of the Contract with America, within 100 days we pledge to bring to the House Floor the following bill]:

The Fiscal Responsibility Act:
A balanced budget/tax limitation amendment and a legislative line-item veto to restore fiscal responsibility to an out-of-control Congress, requiring them to live under the same budget constraints as families and businesses.