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Saturday, May 25, 2024
HB2404 Tax Cut 'the biggest news of the season'
By Grassroot Institute @ 3:17 AM :: 627 Views :: Taxes

Governor's tax-cut proposal hailed by Grassroot writers in two forums

All we need now is for Gov. Josh Green to actually sign the bill and we can watch as all the expected benefits start to flow

from Grassroot Institute, May 24, 2024

Monday was a double hit for Gov. Josh Green's historic tax-cut proposal.

In the Honolulu Star-Advertiser, Grassroot writers Mark Coleman and Jonathan Helton hailed the Legislature's passage of the proposal, embodied in HB2404.

And in the Hawaii Filipino Chronicle, Grassroot President Keli‘i Akina called the tax bill's passage "the biggest news of the session."

Coleman and Helton wrote that, if approved by Green, HB2404 will lower the state income tax burden for average families by almost 70% by 2031 and save taxpayers roughly $5 billion during that same period.

"The implications of this bill for Hawaii’s economy and social fabric are enormous," they said. "The general sense is that the proposed cuts will help lower Hawaii’s cost of living, stem or reverse the continuing exodus of Hawaii residents and spur economic growth."

In the Hawaii Filipino Chronicle, Akina praised passage of the tax bill as well as bills that — again, pending the governor's approval — will help ease Hawaii's housing and healthcare woes.

To read the Star-Advertiser commentary, go here; the Hawaii Filipino Chronicle article, here.

 

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