Manchin Recieves Another A From Cato Institute
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Gov. Joe Manchin once again received an A in this year’s Cato Institute “Fiscal Policy Report Card on America’s Governors: 2010.”
Manchin, the Democratic candidate for the U.S. Senate special election, last made an A in the Cato report in 2008. Manchin is running against Republican John Raese, Mountain Party candidate Jesse Johnson, and Constitution Party candidate Jeff Becker. The winner will serve the remaining two years left on the term of the late Sen. Robert C. Byrd.
“Joe Manchin of West Virginia has been a popular governor for good reason,” wrote report author Chris Edwards. “The state economy has done well under his fiscal policies of business tax cuts and relatively frugal budgeting. Manchin cut the corporate income tax rate, eliminated the corporate license tax, and phased out the business franchise tax. Manchin also has a good record on spending and in most years has proposed reductions to the general fund budget.”
Published every two years, the 10th biennial Cato report card, Governors are graded on the tax and spend records. Manchin is joined on the A list by Mark Sanford of South Carolina, Bobby Jindal of Louisiana, Tim Pawlenty of Minnesota – all Republicans. Governors in the F category were: Ted Kulongoski of Oregon, David Paterson of New York, Jodi Rell of Connecticut, Pat Quinn of Illinois, Jim Doyle of Wisconsin, Bill Ritter of Colorado, and Chris Gregoire of Washington. Only Rell is a Republican.
“Manchin has also supported other tax reductions, such as a cut in sales taxes on groceries and a cut in business property taxes. Beginning this year, West Virginia businesses will no longer have to renew their business licenses routinely, which will save them money and eliminate about 100,000 government filings each year. Manchin has slightly tarnished his tax-cutting record with support for various energy tax increases. On spending, Manchin has called for spending reductions in most years that he has been in office. His proposed general fund spending for FY11 is only 9 percent above spending in his first year in office, FY05.”
Chris Edwards is director of tax policy studies at the Cato Institute and editor of Cato’s www.downsizinggovernment.org.
Last week Manchin was endorsed by the U.S. and West Virginia Chambers of Commerce, which also cited the 2008 Cato report when making their endorsement. Both chambers praised Manchin’s work at keeping the state’s unemployment rate bow the national average, the increasing the state’s Moody’s bond rating, and his responsible fiscal management.
Read the Cato report below:
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Posted under Budget, Economy, Featured, Finances, Governor, News, Regulations, Spending, Tax Reform.
Tags: Cato Institute, Constitution, Democratic Party (United States), Jim Doyle, Joe Manchin, John Raese, United States, West Virginia
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