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Saturday, September 8, 2012
Dramatic State Tax Hikes on Agenda September 11
By News Release @ 3:57 AM :: 7523 Views :: Energy, Environment

New report advises tax hikes, which could tax lawmakers

Borreca: Just in time for the November elections, an important state commission was just handed a new report urging state taxes be raised dramatically.

The new report urges the state to raise taxes, tax pensions, and cut or cancel tax deductions. And it wants to continue increased hotel room taxes.

The report also says cigarette and alcohol taxes should be raised.

If you had planned to go to a coffee hour to meet a state candidate or if there's a candidate at your door, just ask "Do you agree with the recommendations of the report given to the Hawaii Tax Review Commission?"

The commission will hold a public hearing on the report at 9 a.m. Tuesday in the state Capitol. It is the sort of hearing that should be held in the evening so the tax-paying public can comment….

The report, however, constructed a "multi-year financial forecasting model that projects" how much money the state will take in and how much it needs. That projection is done by assuming the current level of services.

As you might expect, the projection is that if everything stays the same, we will run out of money. This reports says by 2018 and by 2025 the annual budget gap would be $240 million….

The answer is to raise the excise tax to 4.5 percent, meaning that on Oahu it would be 5 percent, because of the half percentage point increase already tacked on for rail.

(Guess What: After Rail is killed, this report will be used to grab all the Rail tax money for the State and hike GE Tax on sister isles.)

NR: Tax Review Commission: Tax Hikes on Agenda September 11

read … Tax Hikes Coming

 

NOTICE AND AGENDA

2010-2012 TAX REVIEW COMMISSION PUBLIC COMMENT

HAWAII STATE CAPITOL CONFERENCE ROOM 309 415 SOUTH BERETANIA STREET HONOLULU, HAWAII 96813

DATE: TUESDAY, SEPTEMBER 11, 2012

TIME: 9:00 A.M. – 11:00 A.M.

A G E N D A

I. CALL TO ORDER

II. PUBLIC COMMENT ON:

(1) DRAFT STUDY OF THE HAWAII TAX SYSTEM BY PUBLIC FINANCIAL MANAGEMENT AND

(2) STUDY ON SELECTED ISSUES OF HAWAII GENERAL EXCISE TAX BY DR. WILLIAM FOX

III. ADJOURNMENT

Reports are available at:

To submit testimony, please email Tax.Rules.Office@hawaii.gov or fax to (808) 587-1584. Testimony must be submitted forty eight (48) hours before the meeting.

NOTE: Persons with disabilities who need accommodations should call the Rules Office at (808) 587-1530 or Taxpayer Services for hearing impaired at (808) 587-1418, two (2) business days before the meeting.

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