The Cato Institute has released its 17th biennial Fiscal Policy
Report Card on America’s Governors, scoring each state leader
according to how much they raised or lowered taxes, and whether
they spent conservatively or significantly increased spending.
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.
Author Chris Edwards gave Gov. J.B. Pritzker a “C” grade, but
said if you look at his overall term in office, he receives an
“F”. He said Pritzker seems unconcerned that Illinois is losing
workers and entrepreneurs who are fleeing to lower-tax states.
He notes that in 2024, Pritzker’s budget included about $1
billion in tax increases, including on sports wagering, limits
on business net operating loss deductions, limits on retailer
payments for collecting sales taxes, and various other charges.
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Edwards said there is a correlation between red states and
fiscal restraint.
“Republicans do always score better by my small government
metric than the Democratic governors on both taxes and
spending,” said Edwards.
Edwards gave the highest marks to Iowa Gov. Kim Reynolds,
calling her a lean budgeter and dedicated tax reformer since
entering office in 2017, and has “greatly simplified Iowa’s
income tax system.”
At the other end, six governors received the lowest grade of
“F”, including Minnesota Gov. Tim Walz, who is on the Democratic
ticket as the vice presidential candidate.
“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,” wrote Edwards. |
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