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Mike Pence on Tax Reform

Republian nominee for Vice President; Governor of Indiana; former Representative (IN-6)

 


Trump tax cuts give $2,000 to average family

PENCE: [Biden] said he's going to repeal the Trump tax cuts. Joe Biden has said it twice in the debate last week that he's going to repeal the Trump tax cuts. That was tax cuts that gave the average working family $2,000 in a tax break every single year.

HARRIS: Joe Biden will not raise taxes on anyone who makes less than $400,000 a year. He has been very clear about that. Joe Biden will not end fracking, he has been very clear about that. Joe Biden is the one who, during the Great Recession was responsible for the Recovery Act that brought America back. And now the Trump-Pence administration wants to take credit when they rode the coattails of Joe Biden's success for the economy that they had at the beginning of their term. On the other hand, you have Donald Trump who has reigned over a recession that is being compared to the Great Depression.

Source: 2020 Vice-Presidential Debate in Utah , Oct 7, 2020

Capital gains tax cut increases revenue & creates jobs

Pence wrote, "Conservatives of both parties managed to return the capital gains tax to slightly below its 1986 level of 20%, and in so doing ensured vigorous growth in the nation's economy. Although House Democrats referred to the legislation as 'immoral' and 'a financial disaster for the country,' the evidence is clear that a reduction in the capital gains tax rate increases revenues, stimulates economic growth and creates jobs." [Indianapolis Star, 11/14/89]

Pence said, "To end the uncertainty that is stifling investment, innovation and growth, we must preserve current tax rates and promote permanent tax reform. Congress must permanently extend the 2001 and 2003 tax rates to ensure no American faces a tax hike on January 1st, and I have introduced a bill with Sen. Jim DeMint to do just that. Most Americans know that higher taxes won't get anybody hired. Raising taxes on job creators won't create jobs." [Detroit Economic Club, 11/29/10]

Source: Trump Research Book on Mike Pence , Sep 22, 2020

Something terribly wrong with taxing dead people

According to a Mike Pence press release, "I believe death taxes are immoral. I believe it is morally wrong to make death a taxable event. I believe it is also morally wrong to say to small business owners and family farmers, and any American whatever their means, that after a lifetime of obeying the law and a lifetime of paying your share honestly and legally to the Federal Treasury, that we will make your death a taxable event." [Congressional Press Releases, 6/22/06]

"The death tax, was enacted in 1916 primarily to raise revenues for World War I, but also because Congress thought it should prevent the transmission of wealth inequalities through inheritance. Last I checked, however, World War I is long over and there is something terribly wrong with taxing dead people. In fact, it is downright harmful to a capitalist economy like ours." [Press Release--Office of Rep. Pence, 4/13/05]

Source: Trump Research Book on Mike Pence , Sep 22, 2020

Lower taxes across the board, and we'll get growth

Trump and I have a plan to get this economy moving again just the way that it worked in the 1980s, just the way it worked in the 1960s, and that is by lowering taxes across the board for working families, small businesses and family farms, ending the war on coal that is hurting jobs and hurting this economy even here in Virginia, repealing Obamacare lock, stock, and barrel, and repealing all of the executive orders that Barack Obama has signed that are stifling economic growth in this economy.
Source: 2016 Vice-Presidential Debate at Longwood University , Oct 4, 2016

Simplify the tax code

Over the past two years we've made great progress cutting taxes. Now let's simplify the tax code and prevent the rapid increase of property taxes on family farms.
Source: State of the State address to 2015 Indiana Legislature , Jan 13, 2015

Across-the-board tax relief better than stimulus bill

Rep. PENCE: The so-called stimulus bill was a piecemeal list of projects and boutique tax cuts. Now, Republicans offered a stimulus bill at the same time. It cost half as much as the Democratic proposal, and it would have created twice the jobs. It essentially was across-the-board tax relief.

Pres. OBAMA: This notion that this was a radical package is just not true. A third of them were tax cuts, and they weren't--when you say they were "boutique" tax cuts--95% of working Americans got tax cuts, small businesses got tax cuts, large businesses got help in terms of their depreciation schedules. I mean, it was a pretty conventional list of tax cuts. And the notion that I would somehow resist doing something that cost half as much but would produce twice as many jobs--why would I resist that? I wouldn't. I am not an ideologue. The problem is, I couldn't find credible economists who would back up the claims that you just made.

Source: Obama Q&A at 2010 House Republican retreat in Baltimore , Jan 29, 2010

Reduce the capital gains tax .

Pence co-sponsored the Capital Gains Tax Reduction Act:

Amend the Internal Revenue Code of 1986 to provide maximum rates of tax on capital gains of 15 percent for individuals and 28 percent for corporations and to index the basis of assets of individuals for purposes of determining gains and losses.

Source: House Resolution Sponsorship 01-HR15 on Jan 3, 2001

Phaseout the death tax.

Pence co-sponsored the Death Tax Elimination Act:

Title: To amend the Internal Revenue Code of 1986 to phaseout the estate and gift taxes over a 10-year period.

    Summary: Repeals, effective January 1, 2011, current provisions relating to the basis of property acquired from a decedent. Provides with respect to property acquired from a decedent dying on January 1, 2011, or later that:

  1. property shall be treated as transferred by gift; and

  2. the basis of the person acquiring the property shall be the lesser of the adjusted basis of the decedent or the fair market value of the property at the date of the decedent`s death.

  3. Requires specified information to be reported concerning non-cash assets over $1.3 million transferred at death and certain gifts exceeding $25,000.

  4. Makes the exclusion of gain on the sale of a principal residence available to heirs.

  5. Revises current provisions concerning the transfer of farm real to provide that gain on such exchange shall be recognized to the estate only to the extent that the fair market value of such property exceeds such value on the date of death.

  6. Provides a similar rule for certain trusts.

  7. Amends the special rules for allocation of the generation-skipping tax (GST) exemption to provide that if any individual makes an indirect skip during such individual`s lifetime, any unused portion of such individual`s GST exemption shall be allocated to the property transferred to the extent necessary to make the inclusion ratio for such property zero; and

  8. if the amount of the indirect skip exceeds such unused portion, the entire unused portion shall be allocated to the property transferred.

  9. Provides that, if an allocation of the GST exemption to any transfers of property is deemed to have been made at the close of an estate tax inclusion period, the value of the property shall be its value at such time.
Source: House Resolution Sponsorship 01-HR8 on Mar 14, 2001

Rated 76% by NTU, indicating a "Taxpayer's Friend" on tax votes.

Pence scores 76% by NTU on tax-lowering policies

Every year National Taxpayers Union (NTU) rates U.S. Representatives and Senators on their actual votes—every vote that significantly affects taxes, spending, debt, and regulatory burdens on consumers and taxpayers. NTU assigned weights to the votes, reflecting the importance of each vote’s effect. NTU has no partisan axe to grind. All Members of Congress are treated the same regardless of political affiliation. Our only constituency is the overburdened American taxpayer. Grades are given impartially, based on the Taxpayer Score. The Taxpayer Score measures the strength of support for reducing spending and regulation and opposing higher taxes. In general, a higher score is better because it means a Member of Congress voted to lessen or limit the burden on taxpayers. The Taxpayer Score can range between zero and 100. We do not expect anyone to score a 100, nor has any legislator ever scored a perfect 100 in the multi-year history of the comprehensive NTU scoring system. A high score does not mean that the Member of Congress was opposed to all spending or all programs. High-scoring Members have indicated that they would vote for many programs if the amount of spending were lower. A Member who wants to increase spending on some programs can achieve a high score if he or she votes for offsetting cuts in other programs. A zero score would indicate that the Member of Congress approved every spending proposal and opposed every pro-taxpayer reform.

Source: NTU website 03n-NTU on Dec 31, 2003

Rated 0% by the CTJ, indicating opposition to progressive taxation.

Pence scores 0% by the CTJ on taxationissues

OnTheIssues.org interprets the 2005-2006 CTJ scores as follows:

About CTJ (from their website, www.ctj.org):

Citizens for Tax Justice, founded in 1979, is not-for-profit public interest research and advocacy organization focusing on federal, state and local tax policies and their impact upon our nation. CTJ`s mission is to give ordinary people a greater voice in the development of tax laws. Against the armies of special interest lobbyists for corporations and the wealthy, CTJ fights for:

Source: CTJ website 06n-CTJ on Dec 31, 2006

Replace income tax & employment tax with FairTax.

Pence signed H.R.25 & S.296

Source: Fair Tax Act 09-HR25 on Jan 6, 2009

Taxpayer Protection Pledge: no new taxes.

Pence signed Americans for Tax Reform "Taxpayer Protection Pledge"

Politicians often run for office saying they won`t raise taxes, but then quickly turn their backs on the taxpayer. The idea of the Pledge is simple enough: Make them put their no-new-taxes rhetoric in writing.

In the Taxpayer Protection Pledge, candidates and incumbents solemnly bind themselves to oppose any and all tax increases. While ATR has the role of promoting and monitoring the Pledge, the Taxpayer Protection Pledge is actually made to a candidate`s constituents, who are entitled to know where candidates stand before sending them to the capitol. Since the Pledge is a prerequisite for many voters, it is considered binding as long as an individual holds the office for which he or she signed the Pledge.

Since its rollout with the endorsement of President Reagan in 1986, the pledge has become de rigeur for Republicans seeking office, and is a necessity for Democrats running in Republican districts.

Source: Americans for Tax Reform "Taxpayer Protection Pledge" 10-ATR on Aug 12, 2010

No European-style VAT (value-added tax).

Pence signed H.RES.1346

Source: Opposing the Imposition of a VAT 10-HRs1346 on May 11, 2010

Replace income tax & estate tax with 23% sales tax.

Pence co-sponsored Fair Tax Act of 2011

    Congress finds the Federal income tax--
  1. retards economic growth and has reduced the standard of living
  2. impedes the international competitiveness of US industry
  3. reduces savings and investment by taxing income multiple times
  4. slows the capital formation necessary for real wages to steadily increase
  5. lowers productivity
  6. imposes unacceptable and unnecessary administrative and compliance costs
  7. is unfair and inequitable
  8. unnecessarily intrudes upon the privacy and civil rights of US citizens
  9. impedes upward social mobility.
    Findings Relating to National Sales Tax- Congress finds further that a broad-based national sales tax on goods and services purchased for final consumption--
  1. is similar in many respects to the sales and use taxes in place in 45 of the 50 States
  2. will promote savings and investment
  3. will promote fairness
  4. will promote economic growth
  5. will raise the standard of living
  6. will increase investment
  7. will enhance productivity and international competitiveness
  8. will reduce administrative burdens on the American taxpayer
  9. will improve upward social mobility; and
  10. will respect the privacy interests and civil rights of taxpayers.
Source: H.R.25 11-HR025 on Jan 5, 2011

Supports the Taxpayer Protection Pledge.

Pence signed the Taxpayer Protection Pledge against raising taxes

[The ATR, Americans for Tax Reform, run by conservative lobbyist Grover Norquist, ask legislators to sign the Taxpayer Protection Pledge in each election cycle. Their self-description:]

In the Taxpayer Protection Pledge, candidates and incumbents solemnly bind themselves to oppose any and all tax increases. Since its rollout in 1986, the pledge has become de rigeur for Republicans seeking office, and is a necessity for Democrats running in Republican districts. Today the Taxpayer Protection Pledge is offered to every candidate for state office and to all incumbents. More than 1,100 state officeholders, from state representative to governor, have signed the Pledge.

The Taxpayer Protection Pledge: `I pledge to the taxpayers of my district and to the American people that I will: ONE, oppose any and all efforts to increase the marginal income tax rate for individuals and business; and TWO, oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates.`

Opponents` Opinion (from wikipedia.com):In Nov. 2011, Sen. Harry Reid (D-NV) claimed that Congressional Republicans `are being led like puppets by Grover Norquist. They`re giving speeches that we should compromise on our deficit, but never do they compromise on Grover Norquist. He is their leader.` Since Norquist`s pledge binds signatories to opposing deficit reduction agreements that include any element of increased tax revenue, some Republican deficit hawks now retired from office have stated that Norquist has become an obstacle to deficit reduction. Former Republican Senator Alan Simpson, co-chairman of the National Commission on Fiscal Responsibility and Reform, has been particularly critical, describing Norquist`s position as `no taxes, under any situation, even if your country goes to hell.`

Source: Taxpayer Protection Pledge 12-ATR on Jan 1, 2012

Other candidates on Tax Reform: Mike Pence on other issues:
2024 Republican Presidential Candidates:
Former Pres.Donald Trump (R nominee)
Ohio Senator J.D. Vance (VP nominee)
Ryan Binkley (R-TX)
Gov. Doug Burgum (R-ND)
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Rep. Will Hurd (R-FL;withdrew)
Gov. Asa Hutchinson (R-AR)
Perry Johnson (R-IL)
Mayor Steve Laffey (R-RI)
Former V.P.Mike Pence (R-IN;withdrew)
Vivek Ramaswamy (R-OH)
Sen. Tim Scott (R-SC)
Secy. Corey Stapleton (R-MT)
Mayor Francis Suarez (R-FL;withdrew)

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External Links about Mike Pence:
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