In a 2008 evaluation of state governors' fiscal policies, the libertarian Cato Institute praised Huntsman's conservative tax policies, ranking him in a tie for fifth place on overall fiscal policy.
He was particularly lauded for his efforts to cut taxes.
The report specifically highlighted his reductions of the sales tax and simplification of the tax code.
However, the report concluded that: "Unfortunately, Huntsman has completely dropped the ball on spending, with per capita spending increasing at about 10 percent annually during his tenure."
He defines his taxation policy as "business friendly".

As part of his presidential campaign, Huntsman claimed that "our tax code has devolved into a maze of special-interest carve-outs, loopholes, and temporary provisions that cost taxpayers more than $400 billion a year to comply with".
The candidate called for "[getting] rid of all tax expenditures, all loopholes, all deductions, all subsidies.
Use that to lower rates across the board.
And do it on a revenue-neutral basis".

In addition, Huntsman has proposed reducing the corporate tax rate from 35% to 25%, eliminating corporate taxes on income earned overseas, and implementing a tax holiday to encourage corporations to return profits from offshore tax havens.
He favored eliminating taxes on capital gains and dividends.
In a 2008 evaluation of state governors' fiscal policies, the libertarian Cato Institute praised Huntsman's conservative tax policies, ranking him in a tie for fifth place on overall fiscal policy. He was particularly lauded for his efforts to cut taxes. The report specifically highlighted his reductions of the sales tax and simplification of the tax code. However, the report concluded that: "Unfortunately, Huntsman has completely dropped the ball on spending, with per capita spending increasing at about 10 percent annually during his tenure." He defines his taxation policy as "business friendly".
As part of his presidential campaign, Huntsman claimed that "our tax code has devolved into a maze of special-interest carve-outs, loopholes, and temporary provisions that cost taxpayers more than $400 billion a year to comply with". The candidate called for "[getting] rid of all tax expenditures, all loopholes, all deductions, all subsidies. Use that to lower rates across the board. And do it on a revenue-neutral basis".
In addition, Huntsman has proposed reducing the corporate tax rate from 35% to 25%, eliminating corporate taxes on income earned overseas, and implementing a tax holiday to encourage corporations to return profits from offshore tax havens. He favored eliminating taxes on capital gains and dividends.
Jon Huntsman Jr.