House Dems. will vote against Sanford vetoes

Look for House Democrats to vote to override all of Gov. Mark Sanford's vetoes today.

The House Democrats said they plan to vote to override Sanford's vetoes on payday lending and a bill to restructure the State Ports Authority.

House Democrats also said they would for a tax realignment study committee bill even though House Republicans refused to give House Democrats an appointment to the proposed study group

DeMint says he'll work hard for Bolden

U.S. Sen. Jim DeMint met Wednesday with Columbia native Charles Bolden, who President Obama has nominated to be the next head of NASA.

DeMint, who serves on the Senate Commerce Committee that will vote on Bolden’s nomination, said he will work hard to make sure Bolden is confirmed.

Bolden, a Marine Corps major general and former astronaut, has flown four missions in space. 

"I was very glad to be able to sit down with General Bolden today. I was impressed with his knowledge of NASA, and I am confident he will provide valuable leadership to the agency at a critical time in its history,” Demint said.

DeMint and Tenenbaum to meet today

U.S. Sen. Jim DeMint will meet today with former S.C. Education Superintendent Inez Tenenbaum, who has been nominated by President Barack Obama to head the U.S. Consumer Product Safety Commission.

DeMint serves on the Senate Commerce Committee, which will consider her nomination, and has offered to support Tenenbaum’s confirmation.
 
“Inez is an excellent choice, and I look forward to meeting with her to discuss the issues facing the commission," DeMint said in a statement. "Improving product safety is very important, but we must always ensure government regulations do not needlessly harm small businesses and the millions of jobs they create.”

States rights adovocates launch protest

A couple dozen 10th Amendment advocates brought their sleeping bags to the State House Tuesday, vowing to camp out until senators approved a resolution, affirming states' rights.

"It is a very serious issue. Our rights are being violated," said Harry Kibler, S.C. director for the Patriotic Resistance organization. "We feel our legislators are failing us as citizens of South Carolina."

Sanford to track stimulus spending

Stimulus money directed to South Carolina will be tracked by at task force Gov. Mark Sanford is establishing and Comptroller Richard Eckstrom will chair.

Eckstrom will set up a Web site that will account for stimulus payments in S.C. that include $1 billion in extra Medicaid payments, $566 million for education, $558 million in unemployment benefits and $463 million for building or repairing highways and bridges.

Senate cracks down on payday lending

The S.C. Senate has decided to impose tougher restrictions on the payday lending industry, rejecting a House plan that had been criticized by consumer advocates as soft on the companies that extend the short-term, high-interest loans.

On a 4-3 vote, the Senate rejected a bill passed by the House last month that would have doubled the amount of payday loans to $600 and would have banned consumers from taking out multiple loans at once.

The Senate bill would limit the amount of payday loans to no more than 25 percent of a borrower's weekly income. The Senate bill would also end the practice known as flipping, which is the continual renewal of the two-week loans for a fee. Under the Senate plan, borrowers would have to adhere to a seven-day "cooling off" period before they can assume another loan.

The Senate bill is identical to the one the body passed last year, authored by Sen. Robert Ford, D-Charleston. It now heads to the full Senate Banking and Insurance Committee. If this bill makes it to through the Senate, then the House and Senate would have to settle their differences in a conference committee. 

Senators hear from both sides on payday loans

A Senate subcommittee took more than two hours of public testimony on reforming the pay day lending industry  Wednesday, before adjourning to take up the issue further next week.

Senators are mulling whether to slap tighter restrictions on the short-term loans, which critics complained is built on trapping consumers in a cycle.of debt.

Pay day lenders charge consumers $15 per $100 borrowed, but over time, end up profiting thousands of dollars in interest when consumers must renew the loans in order to make ends meet.

"It's a business model that is dependent on repeat borrowers," said Sen. Joel Lourie, D-Richland, who encouraged the committee to recommend stronger regulations.

Bad weather will delay House Tuesday

An Upstate snow storm has delayed when the S.C. House will meet Tuesday. House members will meet at 2 p.m. instead of noon to give Upstate lawmakers time to make it to Columbia.

Parts of the Upstate experienced more than 5 inches of snowfall.

House files bills that would limit spending

Bills that would limit the growth of government spending and would set aside more state money to a reserve account have been introduced in the House.

The Spending Limit Bill, H.3397, would cap the growth in spending to population plus inflation. The reserve fund bill would expand the state's reserves to 5 percent to 3 percent. 

Treasurer: Some cities and towns will be denied state money

State Treasurer Converse Chellis said 19 cities and towns in S.C. will be denied state funding for not complying with new transparency rules.

Starting Feb. 1, those towns that have not complied with a law passed last year that requires a higher level of financial reporting to the state will have their funding withheld.

"If a city or town complies with the law it will continue to receive its state aid. If they fail to submit a proper financial audit to our office, then we will begin withholding state aid until they fully comply with the law," said State Treasurer Converse Chellis.