Tips Democrat: American to limit Mike Pence (5)
I believe the answer is:
dumps
'tips' is the definition.
(I know this)
'democrat american to limit mike pence' is the wordplay.
'democrat' becomes 'd'.
'american' becomes 'us' (abbreviation for United States).
'to limit' means one lot of letters goes inside another.
'mike' becomes 'M' (phonetic alphabet: alpha, bravo, charlie etc.).
'pence' becomes 'p'.
'm'+'p'='mp'
'us' placed around 'mp' is 'umps'.
'd'+'umps'='DUMPS'
(Other definitions for dumps that I've seen before include "Gets rid of" , "Waste tips" , "Tips, discards" , "Low spirits" , "Ends relationship" .)