As we enter the final month of the year, the focus shifts to the upcoming 2025 legislative session in Hawaii. The House and Senate have announced new leadership positions and committee chairs, with potential changes in policy direction on the horizon.
For the Tax Foundation of Hawaii, attention will be on monitoring the historic tax cuts enacted last session and potential proposals to modify or reverse them. Other expected proposals include increasing taxes on capital gains, tourists, and conveyance, as well as efforts to enhance government transparency and efficiency while combating waste and corruption.
Large agencies like the Department of Education, Health, and Human Services will be under scrutiny for potential budget cuts and strategies to avoid them. There is also a call to leverage federal resources to avoid losing funding, particularly in the current political climate where blue states may face challenges in securing assistance.
As we navigate through the holiday season and into the legislative session, the hope is for a productive and beneficial outcome for the people of Hawaii. Tom Yamachika, president of the Tax Foundation of Hawaii, emphasizes the importance of utilizing available resources and advocating for responsible governance in the upcoming year.
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