Hawaii HB1807 proposes a 3% income surtax on high-earning taxpayers to fund public education and transportation.

Hawaii HB1807 introduces a 3% income surtax on high-earning taxpayers to address income inequality and fund public education and transportation. The surtax applies to income exceeding $1,000,000 for joint filers, $750,000 for heads of household or surviving spouses, and $500,000 for unmarried individuals or married individuals filing separately. The tax thresholds will be adjusted annually. The revenue generated will be used for public education and transportation purposes, subject to legislative approval.

Hawaii HB1807 proposes a 3% income surtax on high-earning taxpayers to fund public education and transportation.

Hawaii HB1807 introduces a 3% income surtax on high-earning taxpayers to address income inequality and fund public education and transportation. The surtax applies to income exceeding $1,000,000 for joint filers, $750,000 for heads of household or surviving spouses, and $500,000 for unmarried individuals or married individuals filing separately. The tax thresholds will be adjusted annually. The revenue generated will be used for public education and transportation purposes, subject to legislative approval.