State Economists Update Revenue Forecasts

Earlier this month, the South Carolina Board of Economic Advisors (BEA) met to update General Fund revenue forecasts for FY2025-26 and FY2026-27. As members of the budget conference committee meet in the coming weeks to finalize the differences between the House and Senate’s version of the state’s FY2026-27 budget (H.5126), they will have an additional $370 million in one-time money and an additional $210 million in recurring money to appropriate per the BEA.

The revenue increases were driven mainly by greater than anticipated individual income tax collections. The full briefing can be found by clicking here.