Afta all da talk about prioritizing tax relief fo’ da low and moderate-income ohana dem, and promising big kine tax cuts, like $350 million worth, da legislature stay ready fo’ approve one plan dat goin’ give $200 less. ??
Da details of da plan, dey all fuzzy-kine afta Friday’s late afternoon and evening rush to finish up da legislature’s conference committee sessions. ??️
Jus’ da odda day, Senate President Ron Kouchi and House Speaker Scott Saiki wen’ tell da public da tax package goin’ be between $300 and $350 million. But how exactly dey goin’ provide da relief, dat part still stay up in da air. ☁️?
But wen’ all said and done, dey wen’ approve House Bill 954. Da bill goin’ increase da amounts for da income tax brackets, personal exemption, and standard deduction amounts (and even get annual cost-of-living adjustments). Plus, it goin’ change da taxable income brackets and income tax rates for each filing status. It also raises da household and dependent care services tax credit, da refundable earned income tax credit, and da income thresholds and credit amounts of da refundable food/excise tax credit. ???
But, da legislature wen’ say “no can” to exempting food and medical care from da excise tax. On da final day, dey also wen’ say “no thanks” to giving all residents a one-time tax credit and several odda tax breaks, like making da earned income tax credit more big. ???
House Speaker Saiki wen’ tell Hawaii News Now Saturday dat da total value of da tax relief package was “around $128 million.” ??
Da tax relief package might have been cut smalla ’cause lawmakers decided fo’ fund odda high-priority spending programs. But da big kine promise of relief for da ohana dem living “paycheck to paycheck” no goin’ have da impact dey was hoping for. ??
During Friday’s rush-rush negotiating sessions, plenny lawmakers wen’ grumble about slow, mix-up, and no-good communicated decisions from da Finance Committee leaders, who stay unda da supervision of Finance Chair Kyle Yamashita, who stay in his first session as chair. Yamashita always say “no can” wen’ da media like talk story with him, even fo’ explain decisions his members already wen’ vote on. ??
It’s one tough pill fo’ swallow for da hard-working ohana dem who was hoping fo’ more relief. And wit’ all da buzz and hype, da legislature’s promise of one big kine tax cut stay looking more like one small kine break. ??
But we goin’ see how all dis play out in da long run. Maybe dis tax relief package goin’ bring some kine relief to da ohana dem who really need ’em. Only time goin’ tell. ⌛??
NOW IN ENGLISH
????? Tax Cut Plan Doesn’t Deliver As Promised for Hard-Working Families
After all the discussions about prioritizing tax relief for low and moderate-income families, and grand promises of tax cuts amounting to $350 million, the legislature is on the verge of approving a plan that offers $200 million less. ??
The specifics of the plan remained unclear after Friday’s late afternoon and evening rush to conclude the legislature’s conference committee sessions. ??️
Just a few days ago, Senate President Ron Kouchi and House Speaker Scott Saiki had publicly stated the tax package would be between $300 and $350 million. But the exact methods of providing this relief were still undecided. ☁️?
Ultimately, they approved House Bill 954. This bill increases the amounts for the income tax brackets, personal exemption, and standard deduction amounts (and even includes annual cost-of-living adjustments). It also changes the taxable income brackets and income tax rates for each filing status. Moreover, it raises the household and dependent care services tax credit, the refundable earned income tax credit, and the income thresholds and credit amounts of the refundable food/excise tax credit. ???
However, the legislature decided against exempting food and medical care from the excise tax. On the final day, they also rejected the idea of giving all residents a one-time tax credit and several other tax breaks, such as increasing the earned income tax credit. ???
House Speaker Saiki informed Hawaii News Now on Saturday that the total value of the tax relief package was “approximately $128 million.” ??
The tax relief package might have been reduced as lawmakers chose to fund other high-priority spending programs. However, the much-publicized promise of relief for families living “paycheck to paycheck” will not have the anticipated impact. ??
During Friday’s frantic negotiating sessions, many lawmakers complained about slow, contradictory, and poorly communicated decisions from the Finance Committee leaders, under the supervision of Finance Chair Kyle Yamashita, who is in his first session as chair. Yamashita has consistently refused to engage with the media, even to explain decisions his members have already voted on. ??
This situation is a tough pill to swallow for hard-working families who were hoping for more relief. And with all the hype and buzz, the legislature’s promise of a substantial tax cut seems more like a minor break. ??
But we’ll see how all this unfolds in the long run. Perhaps this tax relief package will provide some degree of relief to the families who really need it. Only time will tell. ⌛??
