Here’s How Tax Increases Are Shaking Out In The Hawaii Legislature…Senators moved to raise income taxes on high earners, and the House passed capital gains and inheritance tax increases.
As Hawaii lawmakers approach the midpoint of this year’s session, they are positioning a variety of tax increase bills for passage later in the session, just in case they are needed.
But whether those tax hikes finally pass this year will depend largely on what happens in Washington, D.C.
If the new COVID-19 pandemic aid package being negotiated in Congress this week is generous, there will be less pressure on Hawaii lawmakers to raise state taxes. But if the federal aid package turns out to be more stingy, the Legislature may go on a hungry hunt for money.
