Will the states finally tax the rich?
Lawmakers in seven states last month introduced legislation that aims, in some innovative ways, to raise taxes on their most fiscally favored.
New taxes, tourism funding cuts among bills pushed through as legislature winds down
Lawmakers agreed on a number of measures Thursday that need full House and Senate approval and then Gov. David Ige’s signature.
Lawmakers should pass tax bills to fix our upside-down tax system
Minimum wage earners should not be paying a higher percentage in taxes than those at the top.
Wealthy residents can afford higher tax rate
Their position in society would not change with a 5 percentage point increase in their income tax. Tax them more to the benefit of our state.
Here’s how Hawaiʻi’s new state budget is shaping up
With just a few weeks left in session, both the House and Senate plan to bail out Hawaii employers and pass some tax increases.
Dark clouds are looming over Hawaiʻi even as the economy appears to be improving
Economic experts say many people are worse off than they were before the pandemic and a lower unemployment rate is simply masking deeper problems.
Hawaiʻi senate committee mulls inheritance and conveyance tax increases
Even after a $1.6 billion federal bailout, a key lawmaker says the state might need more money.
Hawaiʻi lawmakers advance capital gains tax increase
The higher state capital gains tax rates would initially raise more than $57 million extra next year.
Bill exempting jobless benefits from state taxes hits a snag
More than 580,000 Hawaiʻi workers filed unemployment claims last year, according to the governor’s office.
Tax form change would clarify amount of REIT deductions
As Hawaiʻi faces major budget shortfalls this year and several years to come, it is imperative that all corporations provide accurate reporting of its assets and revenues generated.
To invest in its future, Hawaiʻi needs to raise taxes now
Kicking the can down the road further burdens the taxpayers of tomorrow.
Senate’s tax fairness bill is good for Hawaiʻi—here’s why
Senate Bill 56 accomplishes what most of us would like our tax system to do: It assesses a greater contribution to the public good from those who can afford it.
Raising taxes on rich would boost consumers
To save businesses like Love’s, we need to shift tax burden away from consumers who drive commerce, to those who earn so much they save a lot.
Require REITs to disclose assets and revenues
So long as these trusts aren’t paying corporate income taxes, they aren’t paying their fair share of taxes.
Here’s how tax increases are shaking out in the Hawaiʻi legislature
Senators moved to raise income taxes on high earners, and the House passed capital gains and inheritance tax increases.
Make sure Hawaiʻi’s tax policy is equitable
Tax policy must ensure that the burden of funding our society—of bringing in the revenues we need to give Hawaiʻi’s residents the best and brightest future possible—is spread fairly.
Don’t hurt vulnerable families; make taxes more equitable
There’s a better solution than depriving vulnerable people of the services they desperately need: Raise needed revenue by taxing the wealthy who have not faced the grim financial consequences of the pandemic.
REITs should pay taxes like rest of us
This is the year for our legislature and governor to come together to do what’s best for the state: Make REITs pay state corporate income taxes.
REITs should contribute more
REITs own property in the islands with a collective estimated total value of $17 billion but, unlike other businesses, the trusts in Hawaiʻi are effectively exempt from state income tax.
Hawaiʻi lawmakers again considering taxing income on REITs
Similar legislation was vetoed by Gov. David Ige in 2019, who warned that it would hurt investment in the islands.