Saturday, March 2, 2024
Hawai'i Free Press

Current Articles | Archives

Monday, January 23, 2023
VIDEO: State of the State Address
By Video @ 3:18 PM :: 1557 Views :: Hawaii State Government

PDF: State of the State Book

Green proposes tax breaks in State of the State address

by Kim Jarrett, The Center Square, Jan 23, 2023

(The Center Square) - Reduction in the food excise tax and increases in income tax credits for low-income Hawaii residents are part of a tax reduction plan revealed by Gov. Josh Green on Monday. 

The governor also pitched a new tax break for educators that would give K-12 teachers a $500 tax credit to purchase supplies. 

Green said that Hawaii's cost of living is twice the national average and the highest in the U.S. 

His proposal would reduce the income tax threshold for single filers from $50,000 a year to $40,000 to receive the food excise tax break. The income threshold for married couples filing jointly would increase to $60,000 from $50,000.

"As the most claimed tax credit, this will affect at least one-third of all state taxpayers, particularly low-income single filers," Green said in his State of the State book.

The income tax credit for low-income renters will also increase, a move that Green said would benefit families considered as asset limited, income constrained and employed, which the governor referred to as the ALICE population. 

"This tax credit has been underutilized because it is a small credit and with stringent income limitation," he said.

Green called his proposal the "Green Affordability Plan."

"Under this proposal, a family of four in every income bracket can anticipate nearly $2,000 in savings due to reduced taxes, and lower-income families will see even more savings," Green said. 

The governor also proposed spending $1 billion to address affordable housing. According to the Department of Business, Economic Development, and Tourism, the state needs an additional 50,126 homes by 2025.

"These funds will be used to support major investments in the Hawaii Public Housing Authority to renovate and upgrade public housing units, to provide state rental subsidies to low-income families, and to boost financing for more affordable housing units through the Hawaii Housing Finance and Development Corporation," Green said. 

Green signed an emergency proclamation he said would remove the red tape involved in construction. 

"As long as we are in a housing crisis, we will treat it like an emergency," Green said. 

The governor also mentioned the construction of a new Aloha Stadium. State officials have eyed a private-public partnership, which Green said would only work if the state gets a fair deal. 

"We are carefully reviewing our options, and we will go forward on the best deal available," Green said. "But we can't afford to wait. The longer the delay, the higher the cost."

The state will be reaching across the Pacific Ocean to Japan to spur economic development, the governor said. 

"We have been working with partners to convene Japanese and local businesses in key sectors for Hawaii's economy, like the international wedding industry, which brings in over 20% of all visitors from Japan," Green said. "Welcoming more visitors like our Japanese neighbors means we can generate more revenue for local businesses while taking in fewer tourists overall."

The state's export business also needs to improve, Green said. 

"Despite being the 41st largest state by population, we rank last of all US states in overall economic exports — a statistic that needs to change," Green said. "Our economy is rife with untapped potential. We will encourage our small business and professional services sectors to seek new markets beyond our islands."

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT