Mike Pence vice presidential campaign, 2016/Taxes
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This page was current as of the 2016 election.
See below what Mike Pence and the 2016 Republican Party Platform said about taxes.
| CANDIDATE SUMMARY | |
Pence on taxes
- In 2014, The Cato Institute gave Mike Pence a fiscal grade of "A." According to the report, "Mike Pence of Indiana has been a champion tax cutter, and he has held the line on spending. ...In 2013 he proposed a 10 percent cut in individual income tax rates, and the legislature agreed to 5 percent. The income tax rate will be phased down from 3.4 to 3.23 percent by 2017. He also approved a repeal of Indiana’s inheritance tax. In 2014 he signed into law a corporate income tax rate cut, adding to the reductions made by the prior governor Mitch Daniels. The rate had been scheduled to fall to 6.5 percent in 2015. Pence approved a further reduction to 4.9 percent, to be phased in by 2021. Pence also targeted property taxes on business equipment for reform."[1]
- Pence commented on property taxes in his 2014 State of the State address. He said, "This tax is especially damaging because it makes it harder for Hoosier businesses to grow by directly taxing any investments they make in equipment. Taxing equipment and technology in a state that leads the nation in making and creating things just doesn’t make sense. And it looks like our neighboring states have figured that out. Ohio and Illinois don’t have a business personal property tax, and Michigan lawmakers just voted to phase theirs out. He signed off on a plan to phase out property taxes on business equipment over time. It allows local governments to end property taxes on new business equipment, while also allowing them to exempt businesses that have less than $20,000 of equipment."[1]
- In 2014, Pence signed SB176, which authorized "eligible counties to fund approved public transportation projects through various parts of the local option income tax rates that are available under current law for other purposes." A referendum had to be passed in order for the tax to be imposed.[2]
- In March 2011, Pence co-sponsored H.R.436 - the Health Care Cost Reduction Act of 2012, which, among other things, proposed repealing "the excise tax on medical devices."[3]
- Read what the 2016 presidential candidates and other vice presidential candidates said about taxes.
| The 2016 Republican Party Platform on taxes | ||||||
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Recent news
This section links to a Google news search for the term Mike + Pence + Taxes
See also
Footnotes
- ↑ 1.0 1.1 Cato Institute, "Fiscal Report Card on America's Governors: 2014," accessed January 2, 2015
- ↑ Indiana.gov, "SB176," accessed April 1, 2015
- ↑ Congress.gov, "H.R.436," accessed April 1, 2015
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ [1-ben_1468872234.pdf GOP.com, "Republican Platform 2016," July 18, 2016]
