“Hawai‘i Minority Leader Speaks Out on the Benefits of the Tax Cuts and Jobs Act”

News Release from Office of Rep Andria Tupola, December 20, 2017

HONOLULU, HAWAIʻI –Hawai‘i Republican Andria Tupola (District 43 – Ewa Villages, Kalaeloa, Honokai Hale, Nanakai Gardens, Ko Olina, Kahe Point, Nānākuli, Lualualei, and Māʻili) speaks out on the benefits of passing the first comprehensive tax reform since 1986 when President Ronald Reagan signed the Tax Reform Act into law. The provisions of the Tax Cuts and Jobs Act include:

• Reductions to the middle-income tax rates
• An increase to the child tax credit
• An increase to the standard deduction, and
• Cuts to the corporate tax rate

“While the tax bill isn't perfect, the people of Hawai‘i will benefit from this tax overhaul,” said Representative Andria Tupola (District 43 – Ewa Villages, Kalaeloa, Honokai Hale, Nanakai Gardens, Ko Olina, Kahe Point, Nānākuli, Lualualei, and Māʻili). “The new provisions directly benefit Hawai‘i’s families by reducing the tax burden on low and middle-income taxpayers. With more than two-thirds of Hawai‘i taxpayers already using the standard deduction, a large number of individuals and families can take advantage of a simplified tax filing option.”

The Tax Foundation estimates that the new tax plan will impact Hawai‘i by adding 1,518 new jobs and predicts a $793 after-tax income increase for middle-income families. The Tax Policy Center anticipates an average tax cut of $2,140 with 80% of taxpayers receiving a tax cut.

"As a former professor and an advocate for higher education, I was concerned when I found out the House version of the bill included graduate student tuition waivers as taxable income. Now that the final version of the bill has passed, I'm glad that the tuition waiver will continue to remain tax-exempt income," said Rep. Tupola.

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Related: Who Gets a Tax Cut Under the Tax Cuts and Jobs Act?