|
Mike Pence on Corporations
Republian nominee for Vice President; Governor of Indiana; former Representative (IN-6)
|
|
|
Reduce state corporate tax rate from 8.5% to 3%
[On individual & corporate taxes]: "Republican Mike Pence is looking at ways to cut Indiana income tax rates across the board if he is elected governor next year. The congressman told The Associated Press on Wednesday that he wants the state's
individual and corporate tax rates reduced to 3 percent. The state's individual tax rate is now 3.4 percent and the corporate rate is 8.5 percent. He also said he would like to repeal Indiana's estate tax." [Associated Press State & Local Wire, 8/3/11]
"Congress should adopt the Armey-Shelby Flat Tax Proposal (H.R. 1040/S.1040) sponsored by House Majority Leader Richard Armey (R-TX) and Senator Richard Shelby (R-AL).
Under the Armey-Shelby proposal, two simple postcard size forms would replace the current tax code's 703 forms." [Mike Pence For Congress via Wayback Machine, 2000]
Source: Trump Research Book on Mike Pence
, Sep 22, 2020
2008: fought bailout to corporations while people lost jobs
By the end of 2007, the United States was at the start of an economic death spiral. And at the start of 2008, a full blown economic crisis was at hand. Pence and an economic crew fought the bailout: at the end of September the House voted it down--but
stocks tanked right after the vote. Pence picked up on a growing resentment on the ground. Pence saw a growing crescendo of outrage and populist revolt from people who were losing their jobs while watching Big Government hand out bailouts to Big Banks.
Source: Piety & Power, by Tom LoBianco, p.146
, Sep 14, 2019
Companies should have religious freedom & rights
When Mike Pence told me and a few other mayors that he was planning to sign the proposed "Religious Freedom Restoration Act" because it was "in my heart that it's the right thing to do," I believed him (Not that it was the right thing to do, of course,
but that it was in his heart.)The language of the bill seemed innocent enough: "a governmental entity may not substantially burden a person's exercise of religion," unless there is a compelling governmental interest at stake. But "person" was defined
to include companies, building on the legal theory of the 2014 Supreme Court Hobby Lobby case, which interpreted federal law as giving corporations the same religious rights as people.
Effectively this meant that any place of business, from a
restaurant to an auto mechanic shop, could refuse an LGBT individual or couple, provided its owner cited religion as the motivation for discriminating. The bill's actual purpose, its sponsors would later reveal, was to legalize discrimination.
Source: Shortest Way Home, by Pete Buttigieg, p.209
, Feb 12, 2019
Pushed manufacturing tax cuts & corporate tax cut
Pence signed tax cuts for corporations and high-income individuals that already failed in other Red States. In March 2014, Pence followed the lead of other Republican governors around the country by passing a package of supply-side corporate and income
tax cuts that he claimed would increase business activity and economic growth in the state. Similar trickle-down economic models "collapsed" after being implemented by Govs. Sam Brownback (R-KS) and Bobby Jindal (R-LA) and failed to produce discernible
results for Gov. John Kasich in neighboring Ohio. As was the case in Ohio and elsewhere, Pence's tax cuts effectively redistributed the state's tax burden onto local governments that were stripped of nearly $1 billion in annual revenue.
An additional manufacturing tax cut pushed by the governor in 2015 was projected to cost the state between $35 million and $240 million annually. [Sources: The Associated Press, 3/25/14; The Indianapolis Star, 3/25/14, 2/3/15]
Source: Media Matters on 2016 Veepstakes: "What Media Should Know"
, Jul 14, 2016
Reduce corporate tax rate to one of the lowest in country
We have provided more than $600 million in annual tax relief. To help our families, we eliminated the death tax and lowered individual income taxes by 5 percent. To help our businesses, we reduced the corporate tax rate and the financial institutions
tax rate, which will result in one of the lowest corporate tax rates in the country. And to help our cities and towns, we gave local communities more options to lower business personal property taxes.
With these improvements, Indiana will become the lowest tax state in the Midwest. Because of our efforts, both during my administration and that of my predecessor, Indiana's tax system now ranks as the tenth best in the nation ,
according to the nonpartisan Tax Foundation . We have taken many good steps together. Now we must make a giant leap -- to simplify and streamline Indiana's tax code so that it becomes the best in the country.
Source: Speech at Tax Competitiveness and Simplification Conference
, Jun 24, 2014
Regulatory burdens are the number one growth killer
I have made job creation job one since my first day in office. That's why we proposed a bold agenda to respond to the realities of the competition we face from other states. More specifically:- An honestly balanced budget that holds the line of
spending, protects reserves, funds our priorities in roads & schools and provides a permanent 10% reduction in income taxes.
- Regional works councils to help address the skills gap by making sure every graduate who wants a job right out of high school
is career ready.
- A regulatory freeze, enacted on day one by executive order--since small businesses cite licensing and regulatory burdens as the number one growth killer. Since signing this order, new regulations by state agencies are down 92%
from last year.
When Indiana adds a 10% tax cut to an honestly balanced budget and combines that with our new commitment to cutting red tape, we will put Indiana in the lead to win the war for jobs for this generation and generations to come.
Source: Governor's remarks at Indy Chamber event
, Apr 17, 2013
Corporate tax cuts create jobs & grow economy
In 2014, Pence signed a bill reducing the corporate income tax to 4.9 percent from 6.5 percent by 2021, making it the second-lowest in the country. And he's proposed even further cuts to business taxes, pressing lawmakers to phase out the business
personal property tax entirely. "With this bill, we give counties the opportunity to incentivize additional investment in new technology and heavy equipment. We make it easier for companies to expand and create jobs here in Indiana."
Source: WFAA.com 2016 Veepstakes on Indiana Voting Records, bill SB1
, Feb 4, 2005
Rated 96% by the US COC, indicating a pro-business voting record.
Pence scores 96% by US Chamber of Commerce on business policy
Whether you own a business, represent one, lead a corporate office, or manage an association, the Chamber of Commerce of the United States of AmericaSM provides you with a voice of experience and influence in Washington, D.C., and around the globe.
Our members include businesses of all sizes and sectors—from large Fortune 500 companies to home-based, one-person operations. In fact, 96% of our membership encompasses businesses with fewer than 100 employees.
Mission Statement:
`To advance human progress through an economic, political and social system based on individual freedom, incentive, initiative, opportunity, and responsibility.`
The ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization`s preferred position.
Source: COC website 03n-COC on Dec 31, 2003
Repeal ObamaCare reporting requirements for small business.
Pence co-sponsored Small Business Paperwork Mandate Elimination Act
A BILL To repeal the expansion of information reporting requirements for payments of $600 or more to corporations. Section 9006 of the Patient Protection and Affordable Care Act, and the amendments made thereby, are hereby repealed; and the Internal Revenue Code of 1986 shall be applied as if such section, and amendments, had never been enacted. [This is the first attempt at dismantling ObamaCare by pieces, as opposed to H.R. 2 which dismantles ObamaCare in whole. The proposed section of the ObamaCare law to be repealed appears below. --OnTheIssues editor].
SEC. 9006. EXPANSION OF INFORMATION REPORTING REQUIREMENTS.- The Internal Revenue Code of 1986 is amended by adding at the end the following new subsections:
-
APPLICATION TO CORPORATIONS. The term `person` includes any corporation that is not an organization tax-exempt.
- REGULATIONS. The Secretary may prescribe such regulations as may be necessary to carry out the purposes of this section, including rules to prevent duplicative reporting of transactions.
- EFFECTIVE DATE. The amendments made by this section shall apply to payments made after December 31, 2011.
Source: HR144&HR4 11-HR004 on Jan 12, 2011
Rated 14% by UFCW, indicating a pro-management voting record.
Pence scores 14% by UFCW on labor-management issues
The United Food and Commercial Workers International Union (UFCW) is North America`s Neighborhood Union--1.3 million members with UFCW locals in all 50 states, Puerto Rico and Canada. Our members work in supermarkets, drug stores, retail stores, meatpacking and meat processing plants, food processing plants, and manufacturing workers who make everything from fertilizer to shoes. We number over 60,000 strong with 25,000 workers in chemical production and 20,000 who work in garment and textile industries.
The UFCW House scorecard is based on these key votes: - (+) Extension of Trade Adjustment Assistance (TAA)
- (+) H. Am. 877 Bishop Am. to HR 3094, penalties for lawsuits against unionization
- (+) H. Am. 880 Jackson-Lee Am. to HR 3094, preventing delays in union votes
- (-) Middle Class Tax Relief and Job Creation Act, freezing public salaries
- (-) Regulation from the Executive in Need of Scrutiny (REINS) Act, for less corporate regulation
- (-) Repealing the Job-Killing Health Care Law Act
- (-) Workforce Democracy and Fairness Act, letting CEOs fire union organizers
Source: UFCW website 12-UFCW-H on May 2, 2012
Page last updated: Jan 24, 2024; copyright 1999-2022 Jesse Gordon and OnTheIssues.org