Categorized | Government, News

House members oppose tax consultant’s increase recommendations

MEDIA RELEASE

A group of members of the House of Representatives are opposing a consultant’s tax increase recommendations to the 2010-2012 Tax Review Commission, scheduled to be heard in a public hearing Tuesday in Honolulu.

The hearing will cover a draft report entitled “Study of the Hawaii Tax System: Final Report.”

The report was prepared for the Tax Review Commission by The PFM Group.

Specifically, the House members oppose the following tax increase recommendations:

* The increase in the general excise tax rate by 0.5 percent

* The imposition of the income tax on pension income

* The increase of the corporate income tax rate

* The elimination of the income tax deduction for real property taxes paid

The members reserved their right to oppose other recommendations in the draft report.

The testimony further states:

“We feel that such a significant net tax increase probably will be detrimental to private businesses, residents, or both, and that PFM has not sufficiently analyzed the impact of the tax increase on the economy, businesses, and residents.”

The testimony in opposition was submitted on behalf of the following:

Henry J.C. Aquino
Karen Awana
Tom Brower
Rida T.R. Cabanilla
Mele Carroll
Pono Chong
Isaac W. Choy
Ty Cullen
Heather H. Giugni
Sharon E. Har
Mark J. Hashem
Robert N. Herkes
Linda Ichiyama
Ken Ito
Jo Jordan
Derek S.K. Kawakami
Marilyn B. Lee
Sylvia Luke
Dee Morikawa
John M. Mizuno
Mark M. Nakashima
Marcus R. Oshiro
Calvin K.Y. Say
James K. Tokioka
Clift Tsuji
Gregg Takayama (Representative-Elect)
Ryan I. Yamane
Kyle T. Yamashita
Jessica Wooley

— Find out more:
hawaiihouseblog.blogspot.com

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