Chris Christie joins the Republican field for president with an announcement at his former high school. Christie, the current governor of New Jersey, has worked to improve New Jersey’s fiscal situation. Christie earned a respectable grade of “B” on both the 2012 and 2014Cato’s Fiscal Policy Report Cards, partly due to his repeated vetoes of the legislature’s tax increases.
Christie has vetoed personal income tax increases five times in six years, including just last week. The 2015 version of the tax increase would have raised the top personal income tax bracket from 8.97 percent to 10.75 percent on income over $1 million. It was coupled with a 15 percent surcharge on corporate income taxes. Together, these two tax increases would have raised $1.1 billion, an enormous tax hike.