ThinkTech Hawaii: A Requiem for Tax Relief (Talking Tax)

How it all Happened. The hosts for this show are Jay Fidell and Tom Yamachika.

This legislative session, death has befallen the broad-based tax reform proposal that would have widened our income tax brackets, increased the standard deduction, and hoisted the personal exemption amount. The proposal was initially made by the Governor as a key piece of the ‘Green Affordability Plan,’ and then was shuffled between bills by the House and Senate money chairs, winding up in House Bill 954 before a House-Senate conference committee got rid of it.

We are left with enhancement of three credits commonly claimed by lower income people — but only for five years.