In The News

S.C. politicians meet with President Trump to discuss fate of MOX project

Friday | October 19, 2018

by Colin Demarest

A collection of South Carolina lawmakers and politicians hit the White House on Thursday in an effort to save the seemingly doomed Mixed Oxide Fuel Fabrication Facility project. The historically pro-MOX group that was scheduled to meet with President Donald Trump that afternoon included U.S. Sens. Lindsey Graham and Tim Scott; U.S. Rep. Joe Wilson; S.C. Gov. Henry McMaster; and S.C. Attorney General Alan Wilson, according to respective spokespeople and prior interviews and information. U.S. … Continue Reading

White House Approves a Tax Rule Meant to Help Distressed Areas

Thursday | October 18, 2018

by Jim Tankersley

WASHINGTON - The Treasury Department on Friday outlined new rules stemming from the $1.5 trillion tax overhaul last year that are aimed at giving investors confidence to pour billions of dollars into distressed economic areas across the United States. Investment banks, venture capitalists and real estate developers have been eagerly awaiting guidance for so-called opportunity zones, a sort of domestic tax haven that was created under the Republican tax bill that President Trump signed into … Continue Reading

Sen. Tim Scott to host South Carolina Woman Veterans event

Thursday | October 18, 2018

by Tim Renaud

COLUMBIA, SC (WCBD) - Senators Tim Scott and Joni Ernst (R-IA) released a joint statement this week to announce a South Carolina Woman Veterans event this Veterans Day weekend. "Senator Ernst is a force to be reckoned with. Not only does she hold the title of United States Senator, but she also holds the rank of Lieutenant Colonel in the Iowa Army National Guard. A dear friend of mine in the Senate, a combat veteran herself, and a powerful voice for women, I am so excited to welcome her back … Continue Reading

Incentives Watch: States Partner with Feds to ‘Zone-In’ on Opportunities

Tuesday | October 16, 2018

by Kevin Thayer

Despite a strong economy and the lowest unemployment in decades, many areas of the country continue to experience poverty and joblessness. Construction and investment booms in cities as centers of economic growth and development, while small towns in rural areas struggle to attract new businesses and development. Enterprise zones are the government's answer to this issue: incentivizing investments in designated low-income areas. Tax incentives offer a carrot to developers and investment funds … Continue Reading

Column: Our state’s maternal death rate is alarming

Sunday | October 14, 2018

South Carolina's maternal-mortality rate is the eighth highest in the nation, with 26.5 deaths for 100,000 live births compared to 20.7 nationwide.The Centers For Disease Control also found that between 2011 and 2015, the maternal-mortality rate for black women in our state was significantly higher, with a gap of more than 40 deaths per 100,000 live births.I am helping to lead a bipartisan effort in the Senate calling for an increased focus on reducing maternal mortality in the United States … Continue Reading

100 Years Later, WWI Veteran Honored Posthumously with Purple Heart

Saturday | October 13, 2018

by Kayland Hagwood

Columbia, SC (WLTX) - The Purple Heart was presented posthumously Saturday to the late Sgt. Perry Loyd to honor the Sumter County native's sacrifice during World War I. Loyd served in the 371st Infantry Regiment, 93rd Division (Colored), at what was then known as Camp Jackson. Loyd was severely wounded in action on Sept. 29, 1918, during the Meuse-Argonne Offensive, a major part of the final Allied offensive of World War I that stretched along the entire Western Front from September to … Continue Reading

‘Opportunity Zone’ Investment Rules Likely This Month from IRS

Thursday | October 11, 2018

Investment fund managers may get answers soon on how to recycle capital gains into projects in low-income areas deemed "opportunity zones" in exchange for a new tax break. The incentive, part of last year's tax overhaul (Pub. L. No. 115-97), has drawn a lot of attention from investors and could tap into an estimated $6 trillion in idle capital gains, according to an analysis of Federal Reserve data by the Economic Innovation Group, a public policy organization based in Washington that is … Continue Reading

Sen. Tim Scott releases statement following confirmation of Brett Kavanaugh

Saturday | October 6, 2018

by Savannah Sondov

WASHINGTON, D.C. (FOX Carolina)- Senator Tim Scott (R-SC) has released a statement following the confirmation of Judge Brett Kavanaugh to the Supreme Court of the United States. Read his full statement below: "One of the greatest honors of my life is being able to serve the people of South Carolina in the United States Senate. Today, once again, history called on the Senate to fulfill the duties given to us by the Constitution-to advise and consent on a Supreme Court nomination. I proudly … Continue Reading

How Sen. Tim Scott envisioned Opportunity Zones working for low-income communities

Wednesday | October 3, 2018

by Hannah Alani

When U.S. Sen. Tim Scott described his vision for federal tax breaks in low-income areas, he spoke candidly of his childhood growing up in impoverished neighborhoods in North Charleston - neighborhoods such as Liberty Hill and Union Heights, which still lack basic needs like grocery stores. The Republican lawmaker saw tax breaks tailored to businesses and investors as a fruitful way to benefit both investors and low-income communities. He called these areas "Opportunity Zones," and was able … Continue Reading

Mayors urged to prepare for opportunity zones

Tuesday | October 2, 2018

by Travis Boland

John Lettieri's message was simple: Get ready. Lettieri, co-founder and president of the Economic Innovation Group, encouraged mayors from around the country to start strategizing on how to recruit diverse businesses to their designated opportunity zones. "Mayors and other policy makers should be proactive in facilitating economic growth in their community," Lettieri said. "Zones are not the overall tool, but a strategy. The key for our mayors is deciding what success would look like … Continue Reading

Senate passes opioid bills led by Sen. Tim Scott

Friday | September 21, 2018

WASHINGTON, D.C. (WCIV) - The United States Senate passed a package of bills to combat the opioid crisis this week. Two of the bills were lead by U.S. Senator Tim Scott (R-SC). The two bills aimed to strengthen family treatments and recovery. Senate Passes Two Scott Bills in Landmark Opioid Crisis Package "While we were faced with and continue to prepare for new challenges posed by Hurricane Florence back home in South Carolina, I am glad to see that the Senate continued its job in … Continue Reading

Politico 50: Sean Parker & Tim Scott

Thursday | September 6, 2018

by Tim Alberta

Tim Scott is used to making the best of bad situations. The product of poverty-stricken North Charleston, South Carolina, he excelled-on the football field, in business and in politics, becoming the first African-American to serve in both chambers of Congress. Scott is also the GOP's de facto spokesman on race-no easy task in the Trump era. True to form, however, Scott turned a low point of Republican history into the crowning achievement of his own career. After he rebuked President Trump for … Continue Reading

Sen. Tim Scott highlights kindness at Boiling Springs High after viral Facebook post

Wednesday | August 29, 2018

Students at Boiling Springs High School flipped the script this month and went viral in the process, even reaching the attention of U.S. Sen. Tim Scott, R-S.C. According to an Aug. 20 Facebook post by Tyler and Kay Kirby, their son Andrew often eats his lunch alone, a situation that his mother said "breaks (her) heart." So members of the high school's Student Council extended an invite to Andrew and three other students eating alone on the first day of school. "Mom I didn't eat … Continue Reading

Senators visit Huntington 'Opportunity Zones' as part of national tour

Saturday | August 18, 2018

HUNTINGTON - In May, it was announced that portions of Huntington, including the downtown and West End areas, had been certified as Opportunity Zones by the U.S. Department of Treasury. On Friday, U.S. Sen. Shelley Moore Capito, R-W.Va., hosted U.S. Sen. Tim Scott, R-S.C., in Huntington for a number of visits focused on economic development and Opportunity Zones, a federal program that offers tax incentives to promote private investment in economically distressed areas. "It was so great to … Continue Reading

Sens. Shelley Moore Capito and Tim Scott: Creating opportunities for state growth

Thursday | August 16, 2018

by Sens. Scott & Capito

When the U.S. Senate voted in support of the Tax Cuts and Jobs Act last December, we did so to help millions of families across West Virginia and the nation. Four million Americans have received bonuses or wage and benefit increases since tax reform's passage, and more than a million jobs have been created nationwide. The child tax credit and standard deduction were doubled, simplifying the tax process for many and putting more money back in the pockets of hardworking moms and dads. … Continue Reading

The Innovate Fund Deploys $21.5 Million In New Markets Tax Credits In Spartanburg

Tuesday | August 14, 2018

by Kathleen Maris

Greenville-based The Innovate Fund, a Community Development Entity (CDE) managed by Tax Advantage Group and Greenville Local Development Corporation, has allocated $21.5 million in New Markets Tax Credits (NMTC) to two projects in Spartanburg. The Franklin School, an early childhood education center in the Northside community, received a $10 million allocation and Highland Baking Co., a wholesale bread baking company, received an $11.5 million allocation for production expansion. The combined … Continue Reading

Senator Scott Armed Services and Veterans Report - NDAA Passage Edition

Monday | August 6, 2018

For the first time since Senator Tim Scott has been in the US Senate, Congress passed the National Defense Authorization Act BEFORE the end of the fiscal year. By a vote of 87-10, the Senate agreed to the Conference Report accompanying the John S. McCain Fiscal Year 2019 NDAA. As this follows last week's House of Representatives vote, the bill is now headed to the President for signature. The Conference Report can be found here and the Joint Explanatory Statement can be found here. Senator … Continue Reading

Sen. Scott Leads Finance Committee in Urging President Trump to Name Ambassador to the OECD to Defend U.S. Tax Interests Abroad

Friday | August 3, 2018

This week, U.S. Senator Tim Scott (R-SC) led members on the Senate Finance Committee in urging President Trump to name the United States Ambassador to the Organisation for Economic Co-operation and Development. "Under the Trump economy, the United States has seen unprecedented growth and regained its reputation of being the most competitive nation in the world in which to do business in. With that comes the important task of ensuring that our tax interests abroad are aimed at keeping America … Continue Reading

Sen. Tim Scott asks Congress to recognize Upstate foster dad who has helped 19 children

Monday | July 30, 2018

by Amanda Shaw

GREENWOOD, SC (FOX Carolina) - Senator Tim Scott is asking for an Upstate man who has been an exemplary foster parent to be recognized in the U.S. Congressional Record. Dan Walters of Greenwood earned the 2018 Angels in Adoption reward after his service for children in the foster care system. Walters has fostered 15 children, provided long-term care for three children and adopted a child. "He truly has made an incredible difference in the lives of many foster youth," Sen. Scott said. In … Continue Reading

Ventura County can benefit from new tax incentives

Saturday | July 28, 2018

by John Fowler

What if I told you that there were trillions of dollars of private capital waiting to be invested in economic development in Ventura County? The Investing in Opportunity Act, sponsored by U.S. Sen. Tim Scott, R-South Carolina, became law with the passage of the 2017 Tax Cuts and Jobs Act. The Opportunity Act created tax incentives for investment in "opportunity zones" - areas with high levels of concentrated poverty and still recovering from the Great Recession. Despite the financial crisis … Continue Reading

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