(Radio Iowa) – Governor Kim Reynolds is being honored by a tax-focused think tank that was founded in 1937 by the executives of General Motors and Standard Oil. The Tax Foundation has presented Governor Kim Reynolds with its Distinguished Service Award. She is the first governor to receive the annual award, which has previously honored dozens of federal officials, business executives and educators.

Reynolds has signed five bills to cut taxes since she took over as governor in mid-2017. The most recent will lower Iowa’s income tax to a single rate of three-point-eight percent next year. A panel of state officials recently predicted Iowa tax revenue will decline by a billion dollars over a 24 month period. In a written statement, Reynolds says she’s taken an approach that favors simplicity over complexity and economic growth over government spending.

Reynolds received the Tax Foundation’s award last (Thursday) night at the group’s annual “Tax Prom.” It’s a black tie event in Washington, D.C. with hundreds of officials from businesses and government in attendance. Reynolds is the second Iowan to receive the award. Herbert Hoover is among three presidents to be honored. The others were George W. Bush and Dwight Eisenhauer.