[link removed] [[link removed]]Aloha,
This week Governor Josh Green appeared on Hawaii News Now to discuss his plans to lock in the historic tax cuts for the middle class in Hawaii.
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“In 2024 we passed the largest tax break ever,” Governor Green said. "We’ve already locked in now $4 billion of that tax break… This year people are going to see less taxes taken out of their paychecks right now. So we went from the second highest, and we’re trending towards the lowest, say four or five states in the country with state taxes."
Governor Green went on to say that — because our state budget has to absorb the impact of losing nearly $4 billion due to actions taken by the federal government — we may have to pause implementation of some of the tax reductions temporarily.
“You’re not going to lose your tax break,” Governor Green said, “but it may pause.”
Also this week, it was reported that Hawaii now has the lowest unemployment rate in the country — along with South Dakota — at just 2.1%.
In the annual State of the State address he delivered last week, Governor Green announced that Hawaii's GDP is forecast to be 5% higher than in 2019, personal income is forecast to be 11% higher, and visitor spending per traveler is now the highest ever recorded.
“This is good news for Hawaii,” Josh said. “Making our state more affordable is our top priority, and these low unemployment numbers and positive economic signs show that we’re moving in the right direction.”
Watch Josh’s appearance on Hawaii News Now here. [[link removed]]
Mahalo,
Team Green
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