Where your tax dollars go: State Treasurer explains investment gains

COLUMBIA, S.C. (WSPA) - Many South Carolinians may not know where taxpayer money goes, and how it benefits state agencies and local communities.

South Carolina State Treasurer Curtis Loftis (R-South Carolina) said the state’s investment program earned more than ever before this year, bringing in $1.73 billion in returns. Of that, about $470 million went straight into the state’s general fund.

"We have to make sure that while we have this boom, that we take it and we use it for the people and not for special interest. It's a difficult fight," Loftis said.

While Loftis oversees the state’s billions in taxpayer dollars, he doesn’t decide how that money is spent. His job is to invest and safeguard the funds, not allocate them. Decisions on spending rest with lawmakers and the governor.

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