Roger Biede Executive Director | Greater Florence Chamber of Commerce
Roger Biede Executive Director | Greater Florence Chamber of Commerce
The South Carolina House Ways and Means Committee has revealed its proposed budget for the fiscal year 2025-26, totaling approximately $14 billion. This plan, designated as H.4025, includes around $1.9 billion in new funds available for allocation, according to an updated forecast from the state's Board of Economic Advisors.
Significant allocations within the budget include $200 million earmarked for individual income tax relief and another $200 million allocated to the Department of Transportation (SCDOT) to expedite bridge infrastructure improvements across the state.
The proposal also designates $112 million to raise teacher salaries, increasing starting pay from $47,000 to $48,500. Additionally, it sets aside $90 million for technical college scholarships aimed at filling critical needs jobs through the SC Workforce Industry Needs Scholarship Program (SCWINS).
Further allocations include $13.1 million for the Department of Employment and Workforce's "Find Your Future" portal and $1.4 million dedicated to rural teacher recruitment.
The full House is scheduled to debate this budget during the week of March 10.
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