This week your state Rep. Gilda Cobb-Hunter voted to create $350 MILLION of new debt for Santee Cooper – a taxpayer-owned electricity utility.
...Gilda Cobb-Hunter voted to borrow hundreds of millions of dollars - on your back - to finance the state agency that’s already $12 billion (with a “b”) in the hole.
What will this new debt to be used for?
To pay off old debt!
Make no mistake – this new debt will inevitably lead to more electricity rate hikes, and more expensive power bills for Santee Cooper and Electric Co-Op customers.
But even if you don’t get your power from Santee Cooper, we are ALL going to have to pay all of this money back to Wall Street – with interest.
Add this to the billions in debt politicians have already piled up at our state university system, the State Infrastructure Bank slush fund and the state employee pension fund.
The amount of government debt being placed on the backs of South Carolinians is staggering.
But the situation Gilda Cobb-Hunter has created is even more dangerous than it sounds.
According to the South Carolina state Constitution (Article 10-13-4), if we're unable to make a single payment on general obligation debt an unlimited, statewide property tax hike automatically goes into effect.
Gilda Cobb-Hunter needs to hear from you right now.
Call and ask them why they voted to put more debt on your back.
This dangerous amount of debt could lead to a brand-new, statewide property tax hike.
Tell Gilda Cobb-Hunter: NO MORE DEBT! Eliminate the Constitutional provision that triggers an unlimited state-wide property tax hike.
Here is your state Rep. Gilda Cobb Hunter’s personal phone number: 803-347-2979
*Learn more about Gilda Cobb-Hunter – their voting record, who funds their campaign, how they make a living, etc. Click here.
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