The Cato institute’s yearly Fiscal Policy Report Card on American Governors was released Wednesday. Since 2010 state revenues have increased by about 33 percent. Some governors used this to increase spending while others cut spending and cut taxes. Cato’s list rated Governors on how well they cut spending and taxes.
As per usual, Republican Governors dominated the top of the list. The top 25 Governors consist of 21 Republican Governors and just 4 Democrat Governors. This discrepancy can also be seen in the average Fiscal Policy score by party as seen in the image below.
Data from Cato’s report, compiled in graph by the author.
Mike Pence, vice presidential nominee for the Republican Party, stood out this year as he was rated in 5th place out of America’s governors. His solid record of cutting taxes and cutting spending in Indiana has earned him an “A” grade from the Cato Institute.
Table snippet from Cato’s report.
The effect of this conservative fiscal policy can immediately be seen with Indiana having risen to the 8th spot in Tax Foundation’s Competitiveness Index.
Mike Pence, as opposed to big taxer and spender Tim Kaine, brings a very solid background of conservative fiscal policy to the table as vice presidential nominee. He reduced Indiana’s income tax by 5 percent for everyone. He repealed Indiana’s inheritance tax and he cut the corporate tax rate from 7.5 percent to 4.9 percent so that businesses can flourish.
If Hillary Clinton and Tim Kaine are elected to lead this country we can expect tax increase after tax increase with their proven record of pushing tax hikes and their promise to raise taxes by over $1 trillion over ten years.
Americans for Tax Reform tracks Hillary Clinton and Tim Kaine’s proposed tax hikes at HighTaxHillary.com