Tax Relief Not For All
The State Legislature finally got around to addressing the constitutionally mandated issue of providing taxpayers with relief. Under the State Constitution, the legislature is required to provide a refund back to the taxpayers after 2 consecutive years of “tax surplus.”
The problem this year is that the tax relief will not come in a form of a refund, available to all taxpayers. This year, if two bills pass out of the legislature this week, the tax relief will come in the form of tax credits for people who qualify at certain income levels. Taxpayers who make more than the stated amount will get nothing.
Everyone should get a tax refund this year, regardless of income level. Why? Because taxpayers at all income levels paid into the system.
More information at the following links:
- Tax Relief Plans are Weak Critics Say
- SB 148: Mandatory Tax Credit Bill
- SB 1882: Low income food /excise tax credit
Over the years many new taxes have increased the cost of living and doing business in Hawaii. The Democrats who dominate the legislature takes more money away from the taxpayers rather than allowing them to keep it in their own pockets.