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.”
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 Pence also repealed the state’s inheritance tax that burdens the families of small‐business owners and Indiana farmers in their time of loss.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.