Gov. Mark Sanford wisely took what he could get with the Legislature's passage of a tax-cut bill benefiting small businesses this week. While far short of his goal of providing cuts to all individual taxpayers, the plan will provide tax relief to a bulwark of the state's economy.

But as the governor announced his intention to sign the bill into law, he put the Legislature on notice that he will pursue his larger proposal to eventually provide an estimated $1 billion in individual tax relief. Indeed, he described it as the "top legislative priority of this administration."

Mr. Sanford cited the availability of $600 million in new revenue to the state this year, adding, "I'm frankly a bit disappointed the Senate didn't devote a serious portion of this to tax relief for all South Carolinians."

The governor's larger tax-cut plan would have been phased in, and the new revenue should have allowed the process to begin. But at least the Legislature won't go home this year without providing some measure of tax relief.

The House of Representatives has generally been willing to follow the governor's lead on tax relief, approving it this year and last. Last session, the measure failed in the Senate as a result of a filibuster. Senate rule changes approved this year made that sort of hold-up less likely, but the Senate opted to support a pared-down measure at the recommendation of its Finance Committee, which called for lowering the rate for small businesses from 7 to 5 percent over the next four years. According to our report, the cost to the state would be some $129 million per year.

Rather than risk that partial win, Mr. Sanford decided not to go for the entire plan this year. Had the tax-cut measure gone to a legislative conference committee, it is possible that it might not have emerged with even as much relief as the Senate bill provided. House Speaker David Wilkins concurred with the governor's decision, describing it as "a get-a-bird-in-the-hand kind of thing."

The "bird in the hand" should not be discounted. It is, in the words of the governor, "a huge win" for small businesses, which Mr. Sanford said comprise the state's "lead economic driver and the backbone of job creation." A small-business spokesman predicted that the money saved in taxes would be reinvested in individual businesses.

Meanwhile, individual taxpayers can take some comfort in the governor's promise to pursue additional relief next session. If revenues stay healthy, the prospects for a broader tax cut should be improved in an election year.