Trump Research Book: on Tax Reform
Mike Pence:
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
Mike Pence:
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
JD Vance:
Eliminate SALT deduction: it's massively redistributive
2019: "VANCE: When I think about [Trump's 2017] tax cut legislation, which was OK, it wasn't terrible, but it wasn't great. If I think about the health care legislation which I think was genuinely a moral and political disaster and I'm glad that it
never passed." [American Conservative via YouTube, 6/5/19]2024: "Vance is quietly critical of Trump's signature legislative achievement, the 2017 tax bill, parts of which he views as regrettable vestiges of McConnell-style conservatism. When I asked
him about it, Vance praised parts of the bill--including the elimination of the SALT deduction, which he called 'massively redistributive toward the lower- and middle-income brackets'--while criticizing other elements. Vance admitted that he would have
voted for Trump's tax bill if he had been in the Senate." [Politico, 3/15/24]
2024: "Trump is promising to extend the parts of the 2017 tax law that are set to expire next year, and Vance is expected to support that effort." [Washington Post, 7/16/24]
Source: Washington Post in 2024 Trump Research Book
Aug 2, 2024
Mark Sanford:
Vetoed 50-cent increase in cigarette tax
In May 2010, [then-State Rep.] Scott voted against overriding Governor [Mark Sanford]'s veto of House Bill 3584 [which would have raised the cigarette tax]. The bill "would increase the tax by 50 cents per pack, rather than the
30-cent-per-pack increase approved earlier this year in the House budget. The increase, if enacted, would generate $136 million in state healthcare funding.
Most of the money would go into a new Medicaid trust fund to help pay for health care for the elderly, disabled and the poor." The House overrode the veto by a vote of 90 to 29, thus, it became law
[despite] the Governor's veto. [South Carolina Legislature, 5/12/10; Pageland Progressive-Journal, 4/27/10; South Carolina Legislature, H. 3584]
Source: 2024 Trump Research Book on South Carolina voting records
Aug 2, 2024
Tim Scott:
Voted against 50-cent increase in cigarette tax
In May 2010, [then-State Rep.] Scott voted against overriding Governor [Mark Sanford]'s veto of House Bill 3584 [which would have raised the cigarette tax]. The bill "would increase the tax by 50 cents per pack, rather than the
30-cent-per-pack increase approved earlier this year in the House budget. The increase, if enacted, would generate $136 million in state healthcare funding.
Most of the money would go into a new Medicaid trust fund to help pay for health care for the elderly, disabled and the poor." The House overrode the veto by a vote of 90 to 29, thus, it became law
[despite] the Governor's veto. [South Carolina Legislature, 5/12/10; Pageland Progressive-Journal, 4/27/10; South Carolina Legislature, H. 3584]
Source: 2024 Trump Research Book on South Carolina voting records
Aug 2, 2024
Page last updated: Aug 06, 2024