September 18, 2025
The Institute of Taxation and Economic Policy estimates that in 2026, South Carolina’s wealthiest 1%—those making over $782,500 a year—will receive an average tax cut of $68,260, while the lowest-income residents, earning under $23,200, will face an average tax increase of $30, in addition to steep cuts to Medicaid and SNAP.
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ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
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