Tax rebate, minimum wage hike, other help on the way
Posted on Jun 27, 2022 in Capitol Connection, Featured, Main
Legislators and community advocates gather for the bill signings by the governor.
Hawai‘i residents hit hard by the COVD-19 pandemic will get some welcome relief from two bills Governor Ige signed June 22. SB 514 would give a tax rebate of $300 per person to filers who earn less than $100,000 a year and $100 per person to tax filers who earn more than $100,000 a year. The rebates would also apply for each dependent. The governor had proposed a rebate for all taxpayers and their dependents in his 2022 State of the State address, and legislators increased the amounts when state tax collections proved to be even more robust than expected. The Department of Taxation anticipates it will begin issuing the rebates the last week of August. Most of the payments will be sent out by the end of October.
The governor also signed HB 2510, which will raise the current state minimum wage of $10.10 to $12 this October and $18 per hour by 2028. The same bill also extends and makes permanent the Earned Income Tax Credit to help Hawai‘i’s working families. “All of us understand that the high cost of living is a burden for many in our community,” said the governor. “We know people continue to struggle in the wake of the pandemic. Thanks to the legislative leadership of Senate President Ron Kouchi, Speaker Saiki, Sen. Brian Taniguchi and Rep. Sylvia Luke, these two bills will put more money in the pockets of those who need it the most. This means consumers will have more money to support our local businesses and our economy for the benefit of everyone.”