McMaster discusses details of state budget for FY 2025-2026

COLUMBIA, SC (WOLO) — At a press conference Wednesday morning, Governor Henry McMaster announced the release of the final state budget, including 11 vetoed lines, for the upcoming fiscal year.

“Every dime needs to be open, citizens need to know where it’s going, why it’s going, who proposed it, and who’s gonna be spending it and what it’s expected to do,” he says.

The final state budget for the 2025-2026 fiscal year now stands at $14.7 billion — after the SC Board of Economic Advisors increased its revenue projections by an additional $1.4 billion since the governor issued his executive budget in January.

“Well, we’re not spending all of that $1.4 billion, we’re only spending about half of it. Because we’re conservative and this is a conservative budget. It’s a good budget. It’s one of the best,” he says.

Within the budget are further income tax cuts — with, according to McMaster, over $1 billion in income taxes being eliminated to date.

Also provided is full funding for the assignment of School Resource Officers across 177 SC schools currently without one.

“And when I say a resource officer, I mean a trained, certified, gone to the academy, taken all the tests and classes, passed the physical fitness and everything else,” says McMaster.

One of his 11 vetoed lines included a line that would allow a private company to hire an SRO. He says SROs must come from a law enforcement agency.

“What we don’t want is unqualified people that don’t have the training, that haven’t met all of the qualifications to be posted as a School Resource Officer when they’re not qualified to do that. This is serious business and we have to be sure that those are on guard and on duty meet that high qualification,” he says.

The budget also allocates additional money for law enforcement pay raises, and increases the minimum starting teacher salary to $48,500 annually.

“That’s not enough. I had asked the legislation to give us $50,000 by next year. I wish we’d gotten $50,000 this year, because our teachers… we’ve got great teachers… but they won’t stay teaching if we don’t pay them,” says McMaster.

Other items included in the budget? A freeze on college tuition, $150 million allocated for a new neurological hospital operated by the University of South Carolina, and the ability to use debit cards to purchase lottery tickets– which according to the SC Lottery Commission will generate nearly $16 million for college scholarships.

“Remember this is a great budget, and the next one next year is gonna be even better than this year,” says McMaster.

To view a detailed message from the governor on the state budget and his vetoed lines, click here.