FOR IMMEDIATE RELEASE
Contact: Brandon Charochak
Phone: 717.315.9850
Email: Brandon.Charochak@myscmc.org
COLUMBIA, S.C. – South Carolina Manufacturers and Commerce (SCMC) applauds the General Assembly and Governor Henry McMaster for enacting the FY 2026-2027 state budget, which delivers tax relief and makes important investments in workforce development and infrastructure.
“This budget delivers on priorities that matter to families and businesses across South Carolina,” said SCMC President and CEO Sara Hazzard. “We are grateful to the General Assembly and Governor McMaster for working together to strengthen our foundation for future economic prosperity. When we pass meaningful tax relief, invest in our workforce and bolster our infrastructure, we keep South Carolina on the move – and our neighbors, not to mention competitors across the nation, take notice.”
The budget includes the following wins for the South Carolina business community:
- Income Tax Relief: $325 million income tax cut, reducing the income tax rate from 6% to 5.21%.
- S.C. Workforce Industry Needs Scholarships: $95 million for the South Carolina Technical College system to help students pursue credentials and degrees in high-demand fields.
- Workforce Training: $15 million to recruit and train talent for high-demand careers through readySC.
- Bridge Modernization and Repair: $190 million for the South Carolina Department of Transportation to modernize and repair bridges across the state.
- Road Funding: $175 million to support critical road and transportation improvements.
The newly enacted budget adds to the policy and legislative victories SCMC highlighted earlier this summer, including income tax reform, small business and manufacturing tax relief, regulatory reform, and SCDOT modernization.
SCMC’s 2026 Legislative Report has been updated to include these budget victories, read the full report here.
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