Hawaii governor proposes tax relief to lower cost of living
Hawaii Gov. Josh Green on Monday proposed investing $1 billion in affordable housing and giving tax breaks to people of all income levels to lower the cost of living in the islands.
Green told lawmakers during his first State of the State address at a joint session of the state Legislature that tax breaks would get money into the pockets of working families so they can pay for food, medicine and housing. He said the tax breaks would also stimulate the economy because "every dollar" that goes to working families with limited assets and income would be spent immediately.
Green said every family of four could expect to get $2,000 in tax relief under his plan, while lower-income residents would get more.
"This plan makes sure every income bracket does a little better and directly lowers the cost of living for every single resident by keeping more money in our pockets for each taxpayer, especially those who are wrestling with survival," Green said.
The proposal includes doubling the standard tax deduction and providing tax credits to families paying for childcare, babysitters, after-school care and adult day care.