South Carolina Shows America the Path to Prosperity: Cutting Income Taxes

South Carolina Shows America the Path to Prosperity: Cutting Income Taxes

On June 4, South Carolina Governor Henry McMaster signed the new state budget for 2025-26 budget into law. This budget uses part of the state’s budget surplus to accelerate income tax rate reduction scheduled for the coming years in accordance with the income tax relief package of 2022.   While South Carolina has long been home to a relatively uncompetitive tax system, especially compared to its neighboring states, Gov. McMaster and state legisl…