Aloha!
Friday, May 8, 2009
Hundreds of Hawai`i residents attended Governor Lingle's public veto ceremony in the State Capitol Rotunda, where she vetoed tax increases on Hawai`i residents, businesses and visitors.
"They can't tax their way to prosperity. They can't tax their way out of this economic crisis," said Governor Lingle. "The only thing that gets us out of this crisis is more visitors coming, more homes being built, and more jobs being created."
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Watch this public veto ceremony.
The bills vetoed by Governor Lingle are:
SB1111 SD1 HD1 CD1 – Increases the transient accommodation tax by 28 percent over the next two years, adding to the cost visitors and residents pay when staying at hotels, time-shares, and bed & breakfast lodgings. The tax increase would raise the cost of visiting Hawai‘i and discourage both leisure and business travelers from coming to the islands and further destabilize Hawai‘i’s already weakened visitor industry.
HB1741 HD1 SD1 CD1 – Increases by up to 257 percent the conveyance tax home buyers, businesses, real estate developers, charities, non-profit organizations and other purchasers of all residential, commercial, industrial and agricultural real estate must pay for transactions over $2 million. It would also adversely impact affordable housing projects and non-profit organizations, including churches, schools, and youth organizations.
HB1747 HD1 SD1 CD1 – Increases the personal income tax rate on almost 37,000 Hawai‘i income tax filers, sole proprietors and small businesses (S-corporations and partnerships) that file their business income as personal income. There are over 27,000 S-corporations, partnerships and sole proprietorship in Hawai‘i, which includes approximately 6,000 sole proprietors.
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