GOVERNOR PROPOSES $346 MILLION TAX RELIEF PACKAGE FOR HAWAI`I RESIDENTS

January 18 - "Our residents are struggling with the high cost of living and they will continue to fall further behind unless we provide immediate and long-term tax relief," the Governor said as she announced a comprehensive package of tax relief measures to help ease the high cost of living for Hawai`i residents.  The Administration's proposals, called "Helping Those Who Need It Most," total $346 million over two years. They include automatically adjusting certain tax measures annually to account for inflation, raising the standard deduction to allow wage earners to keep more of their take-home pay, eliminating the general excise tax (GET) on certain essential foods, providing additional tax exemptions and credits for families with children or aging parents, reinstating the tax exemption on gasoline blended with ethanol and extending the exemption to biodiesel, and exempting National Guard and Reserve members from having to pay vehicle tax and registration fees.  In addition, the Governor is proposing a one-time tax refund to taxpayers as mandated under the State Constitution because of the large surplus over the past two years.

• Watch the video of this important announcement.
• Read the news release and fact sheet.