Senator Scott Applauds the Major Economic Benefits for South Carolinians from the One Big Beautiful Bill

WASHINGTON — U.S. Senator Tim Scott (R-S.C.) released a statement on the impact of H.R. 1, the One Big Beautiful Bill Act, on South Carolinians.

“The One Big Beautiful Bill is a game-changer for South Carolina families and businesses,” said Sen. Scott. “This historic legislation delivers real tax relief to hardworking South Carolinians while protecting jobs and strengthening our state’s manufacturing base. This unified government has once again proven our commitment to putting America First and making sure that our economy works for everyone so that every American has the opportunity to succeed.”

Background:

Analysis by the Council of Economic Advisers shows that the One Big Beautiful Bill will deliver substantial economic benefits to South Carolina, protecting nearly 97,000 jobs and increasing wages by $3,300 to $6,000 over the next four years. 

The comprehensive legislation provides significant tax relief to South Carolina families and workers through multiple provisions. A typical family with two children can expect higher take-home pay of $6,900 to $9,800 compared to if the bill had not passed. 

The bill eliminates taxes on tips, benefiting approximately 5 percent of South Carolina’s labor force employed in tip-eligible occupations. Additionally, about 1 million seniors in the state will benefit from the elimination of taxes on Social Security benefits. 

South Carolina’s workforce will also see substantial relief through the bill’s overtime tax elimination provision. Roughly 26 percent of all state employees regularly work overtime and could benefit directly, while 66 percent of workers are in occupations likely eligible for overtime compensation. 

The legislation particularly strengthens South Carolina’s manufacturing sector, which represents 4 percent of firms, 3 percent of establishments and 13 percent of employment statewide. The bill extends the Section 199A pass-through deduction for small businesses, potentially benefiting about 74,000 firms — 44 percent of all businesses in South Carolina.

The bill also makes permanent and enhances Opportunity Zones incentives, a program championed by Sen. Scott. South Carolina’s 135 Opportunity Zones created an estimated 18,000 jobs following passage of the Tax Cuts and Jobs Act through 2021 and led to construction of approximately 3,900 housing units through the third quarter of 2024. 

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