These five US governors have the best fiscal policies, report reveals

The rankings are in for which U.S.governors have the best – and worst – records when it comes to fiscal responsibility.The Cato Institute released its biennial Fiscal Policy Report Card on America’s Governors for 2024 this week, scoring each state leader according to how much they raised or lowered taxes, and whether they slashed spending or ramped it up.Here are the most fiscally responsible governors in the nation, according to the libertarian-leaning think tank:Iowa Gov.

Kim Reynolds topped the list for the second time in a row with a high score of 81, making her one of six governors to earn an “A” grade in the study.The report, authored by Cato’s Kilts Family Chair in Fiscal Studies Chris Edwards, hailed Reynolds’ track record as “a lean budgeter and dedicated tax reformer since entering office in 2017.”Reynolds also beat her own scoring record this year, after ranking No.1 in Cato’s 2022 report with a score of 78.Nebraska Gov.

Jim Pillen, a veterinarian by trade and an entrepreneur, came in second on the list with a score of 77.The report hailed Pillen for cutting “the corporate tax rate and top individual income tax rate from a planned 5.84 percent to 3.99 percent, to be phased in by 2027.”It added that Pillen “also ended taxes on Social Security benefits, allowed businesses to expense their equipment purchases, and achieved major property tax reductions.”West Virginia Gov.Jim Justice ranked as third-most fiscally responsible state leader with a score of 71.The entrepreneur became governor as a Democrat in 2016 and switched parties to the GOP a year later.Cato’s study praised Justice for pushing for income tax reductions, and joining forces with the legislature to pass the “largest tax cut in West Virginia history” last year.Arkansas Gov.

Sarah Huckabee Sanders landed No.4 in the rankings with a score of 69.The report touted the series of tax reforms the state has implemented since her election in 2022, slashing ...