Big Island House Rep Chris Todd has introduced a bill to lower taxes on the low- and middle-class wage earners to help prevent and reduce homelessness.
House Bill 2642 would reduce the cost of living for Hawai‘i residents by:
Lowering the income tax rates for the lowest six income brackets
Increasing the rental motor vehicle surcharge tax
Requiring the increased revenue in rental motor vehicle surcharge tax to be deposited in the general fund to offset the lower income tax rates
Increasing the refundable food/excise tax credit.
Click to submit testimony
“Hawai‘i residents are having difficulty making ends meet, especially in the lower- and middle-income groups,” said Rep. Todd (Keaukaha, Hilo, Pana‘ewa, Waiākea). “Allowing this group to keep a little more of their hard earned money could also prevent some families from falling into homelessness.”
ARTICLE CONTINUES BELOW AD
ARTICLE CONTINUES BELOW AD
Depending on total income, the bill doubles the food/excise tax credit to between $110 and $220 for individuals earning $30,000 or less. For people filing joint returns the credit will be doubled to between $70 and $200 for those earning $50,000 or less.
The bill has been introduced and passed first reading.
This comments section is a public community forum for the purpose of free expression. Although Big Island Now encourages respectful communication only, some content may be considered offensive. Please view at your own discretion. View Comments
