# New Cato Institute Report Grades Governors on Fiscal Restraint 

Governors who have cut taxes and spending the most receive the highest grades, while those who have increased taxes and spending the most receive the lowest grades.

October 15, 2024 • News Releases 

*The 17th biennial fiscal report card assigns governors grades of “A” to “F” based on their tax and spending records.*

**Washington, D.C.** – Today the Cato Institute released its [17th biennial Fiscal Policy Report Card on America’s Governors](https://url.avanan.click/v2/r01/___https:/www.cato.org/white-paper/fiscal-policy-report-card-americas-governors-2024___.YXAzOmNhdG9pbnN0aXR1dGU6YTpvOmJkYTM5ZTAzYWE3MmEwYTNkMzNiYWJkYWRmNGY3MDg1Ojc6ZTUwYTpjMmIxOTI3NzQwN2MzNzM1ZTQ5NjFlMjdmM2JlZGMzMjE5N2UzMmE5YTU3ZDUwYzI3MDRiODU4ZmRmYTU0ZjRkOmg6VDpO). The report uses statistical data to grade governors from “A” to “F” on their taxing and spending records from a limited-government perspective.

Six governors received the highest grade of “A”: **Kim Reynolds** of Iowa, **Jim Pillen** of Nebraska, **Jim Justice** of West Virginia, **Sarah Huckabee Sanders** of Arkansas, **Kristi Noem** of South Dakota, and **Greg Gianforte** of Montana.

At the other end, six governors received the lowest grade of “F”: **Tony Evers** of Wisconsin, **John Carney** of Delaware, **Jay Inslee** of Washington, **Janet Mills** of Maine, **Kathy Hochul** of New York, and **Tim Walz** of Minnesota.

The report looks at data since 2022 for each state and awards an objective grade based on spending, revenue, and tax rate variables. Governors who have cut taxes and spending the most receive the highest grades, while those who have increased taxes and spending the most receive the lowest grades.

In this year’s report, author Chris Edwards examines the tax and spending choices made by the nation’s governors and discusses recent policy trends in revenues and tax policy, business subsidies, school choice reforms, and state debt levels.

Edwards lauded the highest-scoring governor Kim Reynolds of Iowa as a “lean budgeter and dedicated tax reformer since entering office in 2017, who has greatly simplified Iowa’s income tax system.” Edwards had a less favorable view of the lowest-scoring governor, Tim Walz of Minnesota. “Governor Walz has overseen large spending increases and pushed major tax hikes on businesses and individuals. He seems oblivious that Minnesotans have been steadily leaving the state for more tax-friendly climates.”

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