The following is a rush transcript of the January 22, 2012 edition of "Fox News Sunday With Chris Wallace." This copy may not be in its final form and may be updated.

CHRIS WALLACE, HOST: I'm Chris Wallace.

Newt Gingrich gets a big win in South Carolina.

Where does the race for the Republican presidential nomination go from here? We'll bring you the latest on the results and the reaction. And we'll have an exclusive interview with Governor Mitt Romney.

Then, with battles over spending, taxes and jobs, will anything get done in Washington this year?

We'll preview the president's State of the Union speech and Republican agenda with John Boehner.

Romney and Boehner only on "Fox News Sunday."

Plus, with South Carolina in the rearview mirror and Florida coming fast, how much longer will the Republicans battle it out?

We'll ask our Sunday panel to break down the GOP contest.

And after the wildest week yet, we'll bring you the remarkable ups and downs on the trail -- all right now on "Fox News Sunday."

And hello again from FOX News in Washington.

A week of dramatic swings in South Carolina has scrambled the Republican race for president.

Here are the final results of the primary-- Newt Gingrich scored a big victory winning 40 percent of the vote. Mitt Romney was a distant second at 28 percent. Rick Santorum finished third with 17 percent and Ron Paul was last.

We'll have an exclusive interview with Governor Romney in a moment.

But, first, for the reaction and results last night, we turn to Fox News senior national correspondent John Roberts in Charleston -- John.

JOHN ROBERTS, FOX NEWS: Chris, good morning to you.

For nearly half of the South Carolina voters, the number one issue was electability, and the man they chose as best able to beat President Barack Obama in November was Newt Gingrich.

(BEGIN VIDEOTAPE)

ROBERTS (voice-over): This primary season has been all about momentum, and Newt Gingrich caught it in the perfect moment, surging to a decisive win over once front runner Mitt Romney.

NEWT GINGRICH, PRESIDENTIAL CANDIDATE: It is very humbling and very sobering to have so many people who so deeply want their country to get back on the right track.

(CHEERS AND APPLAUSE)

ROBERTS: Many voters said it was Gingrich's debate performance that sealed the deal as late deciders broke heavily for the former speaker.

Romney was left to lick his wounds and wonder what might have been -- hurt according to exit polls by his religion and lingering questions about his record at Bain Capital.

MITT ROMNEY, PRESIDENTIAL CANDIDATE: When my opponents attack success and free enterprise, they're not only attacking me, they're attacking every person who dreams of a better future.

ROBERTS: Rick Santorum came in third, a showing that might have ended some campaigns. But with newly proclaimed Iowa win under his belt, he set his sights on the next contest in Florida.

RICK SANTORUM, PRESIDENTIAL CANDIDATE: You know, we're going to take the state. There's no one state that's going to be decisive here. This is a wide open race.

ROBERTS: For Ron Paul, a last place finish. But South Carolina was never his state. Others more to his liking lie ahead.

REP. RON PAUL, PRESIDENTIAL CANDIDATE: We will be going to the caucus states and we will be promoting the whole idea of getting more delegates, because that's the name of the game and we will pursue it.

(END VIDEOTAPE)

ROBERTS: South Carolina correctly chose Republican nominee in every Republican contest since 1980. Will the streak remain unbroken? With three winners in three states, it may be a while before we find out -- Chris.

WALLACE: John Roberts reporting from South Carolina -- John, thanks for that.

Joining us now from the state capital of Columbia is Mitt Romney.

And, Governor, welcome back to "Fox News Sunday."

ROMNEY: Thanks, Chris. Good to be with you.

WALLACE: I want to put up the dramatic change in South Carolina over this past week. Let's look at the polls. On Monday, before the Fox News debate, you were leading Gingrich 29.7 to 22. Last night, Newt Gingrich beat you 40 percent to 28 percent. That is a swing of 20 points in just five days. Question, Governor: what happened?

ROMNEY: Well, Speaker Gingrich had a good day. I think his debate sparring with Juan Williams was a great opportunity for him to show some strength. It was not a great week for me. We spent a lot of time talking about tax returns and, of course, the change in the vote in Iowa. And, you know, it is a time when we faced a setback.

You know, in my experience, a lot of people face setbacks, and you come back from them. And that's the way to be successful, is to come back from the inevitable downturns. We're hoping and expecting to do that down the road.

WALLACE: Let's look the exit polls, though, may have raised some worrisome questions for the campaign. Voters who said they were conservative went to Gingrich over you, 45 percent to 24 percent. And among voters who said it matters that a candidate shares their religious beliefs, Gingrich beat you 46 percent to 20 percent.

You seem to be hurt, Governor, by the idea that you are a moderate and the fact that you are a Mormon?