The GOP Launches A Legislative Agenda To Keep The South Carolina Boom Going 

The Biden economy has been tough nationally, but South Carolina has been living proof that policy makes a difference. South Carolina GDP has been the fifth fastest growing state economy in the entire US. We’ve spent the last five years growing at nearly 5% year over year, which includes the pandemic years.

When you create a business friendly climate, you see, as we have, global companies. BMW, Volve and Boeing have all made major investments in South Carolina, boosting jobs, wages, real estate values and allowing for a growing tax base that improves roads and schools. It’s a virtuous cycle. 

And this virtuous cycle has reduced South Carolina unemployment to near historic lows at 2.9%, which is lower than it’s been since before the pandemic. And these aren’t just McJobs. The tech sector, for example, has been growing at twice the rate of the overall state economy. Today we have over 143,000 tech jobs and generate $13.8 billion in labor income. 

We have a lot to be proud of, but we also have a responsibility to keep the boom going. So with that in mind, we are proposing a tax cut that will put more money back in the hands of South Carolinians, and ease the carrying cost of property for entrepreneurs and small businesses. Specifically, we will reduce the tax rates on individuals in a way that will make the tax code simple, flat and fair. Then we will reduce the property taxes for entrepreneurs and small businesses, enabling them to invest more in their businesses and staff. 

Additionally, we looking to make investments in infrastructure to ease congestion and promote rural development. We’re looking to make energy more affordable, responsibly. We’re giving businesses incentives to offer childcare to help young families. And creating programs that will put able bodied people to work. 

It’s ambitious, but we want the South Carolina Republicans to be the party of prosperity. We see red state policies as a path to a better business climate and a fantastic quality of life for all South Carolinians. 2024 has been an exciting and historic year in many ways, but the road ahead is bright and getting brighter.