The SCMC team logged plenty of miles this week, connecting with business leaders from New York to the Upstate and Lowcountry.
To start the week, we traveled to Niagara Falls, New York, for the annual meeting of the National Association of State Chambers and the Association of State Chamber Professionals. It was a great opportunity to learn from our peers and bring home fresh perspectives that will help us better serve you.
Closer to home, our team visited Lockheed Martin in the Upstate and then joined Governor McMaster at Newport News Shipbuilding in the Lowcountry to tour operations and discuss ways to continue moving South Carolina forward.
Looking ahead, we’re gearing up for Washington Night on August 19. Each member of South Carolina’s congressional delegation has been invited, and POLITICO’s Jonathan Martin will moderate the evening’s program. We hope to see you there!
In This Issue
Four on Friday
1. Legislative Update – General Assembly Adopts FY2026-27 Budget
On Tuesday, the General Assembly returned to Columbia to adopt the conference committee’s report on the state’s FY2026-27 budget, sending the over $15 billion spending plan to the Governor’s desk for his signature. The state has been operating under a continuing resolution since July 1. Read the full legislative update here.
2. U.S. Senate Special Republican Primary Heads to Runoff
South Carolina voters went to the polls Tuesday for the special Republican primary for the U.S. Senate seat previously held by Senator Lindsey Graham. Senator Darline Graham and Congressman Ralph Norman were the top two finishers and will face each other in a runoff election on Tuesday, August 25. Find the full results here.
3. SC Workforce and Manufacturing Summit Is Almost Here. Register Now!
The SC Workforce and Manufacturing Summit is bringing together business leaders to share practical strategies for recruiting, retaining, and developing talent. Join us August 31 through September 2 at the Columbia Metropolitan Convention Center for expert-led sessions, industry panels, and networking. Click here to register.
4. SC Students Improve in Math and Reading in Annual SC Ready Test
Elementary and middle school students posted their best scores yet on end-of-year standardized tests, though more than half still can’t calculate as expected for their age, according to state testing data released Monday. Third- through eighth graders continued to improve in both math and reading, though scores were still generally stronger in reading, according to results from the annual SC READY tests. Read more.
Upcoming Events
Washington Night | Aug. 19, 2026
SC Workforce and Manufacturing Summit | Aug. 31-Sept. 2, 2026
SCMC Annual Meeting | Nov. 10-12, 2026
Legislative Update – General Assembly Adopts FY 2026-27 Budget
On Tuesday, the General Assembly returned to Columbia to adopt the conference committee’s report on the state’s FY2026-27 budget, sending the over $15 billion spending plan to the Governor’s desk for his signature. The state has been operating under a continuing resolution since July 1.
The tentative plan from the conference committee’s last meeting was to adopt the budget compromise agreement and include all “earmarks,” (or community projects), that had been vetted by a separate legislative panel, in a standalone joint resolution. While this option is technically still on the table, it seems unlikely, with both chambers saying that the deal has “fallen apart”. Lawmakers left town without an agreement on community projects.
Community projects and increasing the homestead exemption were the main sticking points throughout the budget negotiations. Ultimately, $81 million was included in the budget to increase the homestead exemption for homeowners aged 65 and older from $50,000 to $75,000.
Notable items in the budget include:
- $325 million to reduce the state income tax from 6% to 5.21%, as prescribed by the Income Tax Reform bill (H.4216/Act 110) that was signed into law by Governor Henry McMaster.
- $190 million to the Department of Transportation (DOT) for bridge repairs.
- $175 million to the County Transportation Committees (CTCs) for road work.
- $112 million to increase teacher pay and raise the minimum starting salary to $50,500.
- $95 million in technical college scholarships for critical-needs jobs via SCWINS.
- $75 million to the Department of Education (DOE) for construction projects for rural K-12 public schools.
- $60 million for statewide airport infrastructure improvements.
- $15 million for readySC.
- $12.5 million to DOT for a road buyback program to transfer state roads to county control.
- $11 million for statewide water and sewer projects.
- $2.5 million to the Department of Environmental Services (DES) to develop an artificial intelligence (AI) pilot program to make environmental permitting more efficient.
- $1.5 million for the Manufacturing Extension Partnership (MEP).
- $869,000 for the Small Business Tax Cut (S.688/Act 243).
Member Spotlight
Ameris Bank Strengthens South Carolina Leadership with Market Presidents in Midlands, Charleston and Greenville
Ameris Bank is strengthening its leadership in South Carolina with the appointment of market presidents in the Midlands, Charleston and Greenville, three important growth areas across the state. Read more.
*SCMC is always looking to showcase the latest news from our members. If you have articles, press releases, company updates, or would like to be featured in a Member Spotlight on our website, please contact Brandon Charochak at brandon.charochak@myscmc.org.
