Hawaii HB928 proposes new income tax brackets for highest earners to address income inequality.
Hawaii HB928 amends the state's income tax brackets to increase taxes on higher income earners, starting from taxable years after December 31, 2029. The bill introduces new tax rates for various income levels, with the highest earners facing the most significant increases. This measure aims to address income inequality by ensuring that higher income earners contribute a fairer share of their income in taxes. The new tax brackets are designed to generate revenue for public investments that benefit all income levels, while also reducing the tax burden on working families.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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