On Monday, January 12th, South Carolina Governor Henry McMaster has unveiled his Executive Budget for fiscal year 2026–2027, proposing major investments aimed at growth, tax relief, and education. The plan directs more than one billion dollars toward keeping road projects on schedule, while also cutting the state income tax from six percent to five-point-nine percent. The governor is also proposing to place $1.4 billion dollars into the state’s rainy-day fund, creating the largest reserve in South Carolina history.
Education is a major focus, with funding to raise the minimum starting teacher salary to $50,500, expand full-day four-year-old kindergarten, freeze in-state college tuition for a seventh straight year, and provide free breakfast to every public school student. The budget also supports school safety, workforce training, healthcare expansion, land conservation, and disaster relief, while calling for a statewide study on how rapid population growth is impacting infrastructure and essential services.
The proposal now heads to the General Assembly for consideration.