A newly released fiscal policy analysis ranks all 50 states, with Iowa Gov. Kim Reynolds’ state in first place and Democratic vice presidential candidate and Minnesota Gov. Tim Walz in last place. .
Published by the libertarian Cato Institute. reportranked states by spending, revenue, and taxes. The top 10 states in the ranking are: Iowa, Nebraska, West Virginia, Arkansas, South Dakota, Montana, Hawaii, Georgia, Idaho, and Vermont.
According to the analysis, the bottom 10 states are New Mexico, Missouri, Oregon, Michigan, Wisconsin, Delaware, Washington, Maine, New York, and finally Minnesota.
The bottom six states received an “F” grade.
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Walz’s low ratings come just three weeks before the presidential election, with Walz and his running mate, Kamala Harris, vying for former President Donald Trump and running mate Sen. J.D. Vance (R-P.C.) , Ohio State) are competing almost evenly.
The report explains Walz’s low score, citing a series of tax increases under his leadership and a 36% increase in spending from about $52 billion to nearly $71 billion starting in 2022. are listed.
From the report:
Walz’s 2019 budget would have added, “$2 billion in new spending, $1.3 billion in increased taxes to pay for it, with the remaining funding coming from existing surpluses.” But he reached a compromise with Congress, resulting in a final tax increase of about $330 million a year. Walz also called for increases in gas taxes and vehicle tolls to raise about $1 billion a year for transportation, but those increases were rejected.
Walz advocated for further tax increases in 2021. It proposed a new personal income tax rate of 10.85%, above the current top rate of 9.85%, an additional tax on capital gains and dividends, and an increase in the corporate tax rate from 9.8% to 2020. 11.25%. The proposal, which would have raised about $1.6 billion annually, was rejected by Congress…
Walz directly hit the middle class with HF 2887, raising taxes and fees on vehicles and transportation. The tax increases include a gas tax slide for inflation, an increase in vehicle registration taxes, an increase in shipping fees, and a sales tax increase in the Twin Cities area.
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