South Carolina State Treasurer Curtis Loftis recently announced that any babies born today will receive \$529 deposited into a future scholarship account. This fund is intended to support the child’s education expenses down the line.
Loftis said this initiative aims to provide educational security for newborns, helping to ease the financial burden of schooling and promote long-term benefits for families and the community.
At the same time, Governor Henry McMaster signed a new law known as the Tort Reform Act. This legislation is expected to reduce insurance costs for bars and restaurants across the state. By lowering the risks and expenses associated with lawsuits, many businesses will be able to benefit from decreased insurance premiums.
This is designed to relieve financial pressure on small business owners and support local economic stability and growth. Together, these two measures reflect the state government’s commitment to improving both residents’ lives and the business environment.
