House approves minimum wage, Mauna Kea bills after emotional floor debate
Meanwhile, the House approved a measure to increase the state capital gains tax while also overhauling the state earned income tax credit to make it a refundable credit. Supporters see the EITC as a way to give a boost to lower-income working families.
The capital gains tax increase would increase the maximum capital gains tax from 7.25 percent to 11 percent, a step that the state tax department estimates would allow the state to collect an extra $100 million or more each year.
That measure passed the House in a 46–5 vote, with Democratic Reps. Patrick Branco and Sam Kong voting against the measure along with Republican Reps. Matsumoto, Ward and Bob McDermott.