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By Alexandra Mondalek
July 14, 2016
Aaron P. Bernstein—Getty Images

On Thursday, before any official announcement was made, the Indianapolis Star confirmed that Indiana’s one-term Republican governor Mike Pence will run on the GOP ticket as Donald Trump’s vice presidential candidate. (Trump’s national campaign spokeswoman, Hope Hicks, said “a decision has not been made.” A formal announcement is scheduled for 11 a.m. Friday in New York City.)

Rumors that Pence would be Trump’s running mate have circulated for a while, then intensified over the weekend.

So, what exactly is Pence’s record when it comes to pocketbook issues like taxes and health care? At a top level, the seasonally-adjusted unemployment rate in Indiana is 5%, according to the Bureau of Labor statistics. (That compares to the national unemployment rate of 4.9%.)

Pence’s website touts his “scorecard,” outlining how Pence signed into law the “largest tax cut in Indiana history,” “added over 100,000 private sector jobs,” and “provided health care to low-income Hoosiers,” among other accomplishments.

Here’s a quick look at some of the money issues Pence has tackled during his political career.

Taxes

Pence has a conservative economic record. Politico reported that he “cut the corporate income tax rate, the individual income tax rate, and eliminated the estate tax” as governor. As a Representative, he also voted frequently to extend tax cuts and eliminate other taxes.

For example, he voted to make permanent the Bush-era tax cuts (a measure that passed), which the Washington Post says left a legacy of deficit-driving income inequality, while favoring the wealthiest Americans. At the same time, the cuts did help middle income citizens take home more of their paychecks because of the reduced tax rates.

In 2011, Pence co-sponsored a bill to eliminate the Federal income tax and estate tax, in hopes of replacing it with a 23% sales tax.

Health care

While in Congress, Pence voted on various measures to limit Medicare benefits.

Specifically, he supported a veto of Medicare expansion, which would have extended coverage to additional preventive services and eliminated higher co-payments for psychiatric services.

Pence also voted “no” to requiring negotiated prescription drug prices for Medicare part D. Those who voted “no” say that imposing negotiations on prices unfairly impacts the market.

As governor, he authorized the Healthy Indiana Plan, or HIP 2.0, which is meant to give 350,000 low-income people access to health care by contributing to a vehicle that is similar to a health savings account.

For a full list of the issues that Pence voted on, check out the non-partisan OnTheIssues.org.

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Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

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Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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