Cato Institute gives Indiana Gov. Pence an "A" in tax policy, Gov. Quinn an "F"

Cato Institute gives Indiana Gov. Pence an "A" in tax policy, Gov. Quinn an "F"

INDIANAPOLIS - When it comes to fiscal policy, Illinois' Pat Quinn is failing and Indiana's Mike Pence is excelling, the Cato Institute says.
Indiana and Illinois are rivals in more than just Big Ten basketball. The two states compete over residents, businesses and investment capital. The policies pushed by the two governors matter, and directly influence this competition. Almost two years into the Mike Pence administration, Indiana seems to be winning the friendly fight, an Indy Star editorial said Monday.

The Cato Institute’s 12th biennial edition of its “Fiscal Policy Report Card on America’s Governors” assigns grades of “A” to “F” to the nation’s governors based on their efforts to restrain government and cut spending. This year’s edition rates Pence with an “A” and Illinois Governor Pat Quinn with an “F.”

Illinois' own governor - in a tight re-election race - is one of eight Democrat governors were awarded an “F.” These governors substantially increased taxes and spending within their states. They were: Mark Dayton of Minnesota, John Kitzhaber of Oregon, Jack Markell of Delaware, Jay Inslee of Washington, Pat Quinn of Illinois, Deval Patrick of Massachusetts, John Hickenlooper of Colorado, and Jerry Brown of California.
Back to Governor Pence and why he was one of the four "A"- deserving governors -

Since taking office Pence has cut taxes and spending and further consolidated the state government. In 2013, Pence achieved personal income cuts that are saving Hoosier families hundreds of dollars annually; the tax rate fell by 5 percent, from 3.4 to 3.23 percent. He accelerated cuts to the state’s corporate income tax, thus allowing businesses to invest more in their companies and employees, a win-win for job and salary growth. Pence also repealed the state’s inheritance tax that burdens the families of small-business owners and Indiana farmers in their time of loss. Pence continued this tax-reform tradition in 2014, signing a phase out of property taxes on business equipment and signaling more tax reform will be on his agenda in 2015.

The rest of the editorial is HERE

Monday, October 13, 2014 at 02:08 PM | Permalink

Technorati Tags: Cato Institute, Illinois Review, Mike Pence, Pat Quinn