South Carolina taxpayers were the winners this week in a friendly game of chicken between the Senate and the House over how deeply to cut the state’s top marginal individual income tax rate. But before we get to the details of a busy money week for the legislature, here is a short tax cut history.
What a year 2025 has been for the state of South Carolina! With a 2026 election cycle well underway (including a series of Statehouse special elections in recent days) and a busy initial year of the two-year legislative session, there has been no shortage of political activity. As we prepare for the 2026 legislative session, we would like to take a moment to reflect on the impact Palmetto Promise Institute has had on
There are very few policy issues that drastically affect families, employers, and the state economy all at the same time, but child care certainly fits in this category. South Carolina parents are struggling to find affordable child care, making it increasingly difficult to balance holding down a job and raising a family. Many parents face termination or reduced hours, as frequent child care-related absences— defined as time off required to provide necessary care or attention to a child when normal care
This column by Palmetto Promise board member Barry Wynn was originally published in FitsNews. For more than three decades, I’ve worked at the intersection of investment management, retirement planning, and sound public policy — helping families plan for their futures and advising institutions on how to safeguard the assets entrusted to them. As former Chairman
South Carolina residents hardly need an introduction to one of the most significant sources of tax revenue in the Palmetto State: property taxes. The property tax is one of the Palmetto State’s oldest forms of taxation and is a staple for state and local government revenue all across the country. According to the Tax Foundation,
Put simply, inflation is the rising price of goods and services. However, inflation is not just about price tags; it is about how price changes ripple through the economic system, impacting consumer behavior, business decisions, and overall economic activity. When inflation makes the news, we usually hear about one of three common indicators: the Consumer
When citizens debate the dreaded subject of taxes, the conversation nearly always revolves around individual income taxes. This was a hot topic in the 2025 South Carolina General Assembly. Yet, behind the scenes, another stealthier tax is quietly shaping the state’s economy just as powerfully: the manufacturing property tax. South Carolina has historically lived on
At Palmetto Promise Institute, we are proud to advance policies that support a free market economy in South Carolina. The term “free market” is frequently used, yet often misinterpreted as a free-for-all economic melee without a governmental role. It is essential to clarify this. In a theoretical model of pure free markets (see your Econ
You may have seen this map going around social media lately. It visualizes data from the United States Bureau of Economic Analysis for the first quarter (Q1) of 2025 (January to March), tracking the Real Gross Domestic Product (GDP) of each state. If you look closer, you can see the Southeast leading the nation with
After long weeks of deliberation, President Trump’s “One, Big, Beautiful Bill” (OBBB) finally passed the US House on July 3, 2025, in a 217-214 vote. Just days prior, the Senate passed it with the final deciding vote cast by Vice President Vance. This tight victory for Trump marks the penultimate step toward his self-imposed July