{"id":17786,"date":"2023-04-17T02:58:45","date_gmt":"2023-04-17T12:58:45","guid":{"rendered":"http:\/\/thefilipinochronicle.com\/backup\/?p=17786"},"modified":"2023-04-17T03:00:49","modified_gmt":"2023-04-17T13:00:49","slug":"yes-hawaii-can-afford-the-green-affordability-plan","status":"publish","type":"post","link":"https:\/\/thefilipinochronicle.com\/backup\/2023\/04\/17\/yes-hawaii-can-afford-the-green-affordability-plan\/","title":{"rendered":"Yes, Hawaii Can Afford The \u2018Green Affordability Plan\u2019"},"content":{"rendered":"\n
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by Keli\u02bbi Akina

<\/em>Prominent Hawaii legislators have questioned whether Hawaii can afford Gov. Josh Green\u2019s proposed tax cuts that would comprise one of the largest \u2014 if not the largest \u2014 package of tax cuts in state history.

The quick answer is, yes, we can afford them \u2014 and thank you very much to the governor for making them one of his key initiatives during his first year in office.

Such tax cuts in Hawaii are long overdue and could help stem the tide of Hawaii residents who have been leaving the islands in droves over the past half-dozen years due to our inordinately high cost of living \u2014 of which taxes are a major component.Gov. Green\u2019s \u201cGreen Affordability Plan\u201d would boost existing tax credits and create new ones, increase the state income tax standard deduction and personal exemption and automatically adjust certain parts of the tax code to inflation.

It\u2019s a complicated plan<\/a>, to say the least. It isn\u2019t as straightforward as simply cutting the tax rate, but I appreciate that the governor recognizes tax relief is critical to Hawaii\u2019s future.

As to the question of whether the state can afford such tax relief \u2014 amounting to about $315 million \u2014 doubters have noted there is a recession on the horizon<\/a>, and it might be impossible to cut taxes without also cutting spending.

Well, the answer to that, of course, is that it\u2019s always a good time to cut taxes and cut spending. But don\u2019t take just my word for it.I put the question to Luis Salaveria, director of the state Department of Budget and Fiscal Services, who was one of the featured experts on the governor\u2019s plan at a recent luncheon<\/a> sponsored by the Grassroot Institute of Hawaii.

\u201cSimply, yes,\u201d he responded. \u201cIn fact, I will go as far as to say that we can’t afford not to do it because really, what we’re sitting on right now, are unhealthy ending balances.\u201d

By \u201cunhealthy ending balances,\u201d Salaveria meant the state\u2019s budget surplus of about $1.9 billion. He said that is money that could be put toward lowering taxes, paying down liabilities or increasing government services.\u201cIf you own a business, and you see that you’re just sitting on cash, and all you’re doing is sitting on cash, you’re not putting that money to work. \u2026 It is not the intention of [the] government to sit on cash,\u201d he said.

Salaveria\u2019s answer was echoed by Seth Colby, tax researcher and planning officer at the state Department of Taxation, who also was featured at the luncheon.

So again, yes, the state can afford to give residents a tax break right now \u2014 and, as Salaveria said, it really can\u2019t afford not to.

Just this month, we learned<\/a> that as of July 2022, the state population overall declined<\/a> by 2.1% compared to April 2020.

Our families, friends and neighbors who are leaving have not been doing so in search of a beautiful climate, spectacular scenery, wonderful recreational opportunities, great food or unique multicultural experiences. We have all those things here. It\u2019s why Hawaii is considered to be a paradise on earth.

But factor in the state\u2019s high prices for housing, food and utilities, its lack of job and business opportunities and its high taxes, and it\u2019s no wonder so many folks have been saying \u201cAloha\u201d to their island homes and communities.

Not only is their departure heartbreaking, but a declining population does not put our state on a trajectory for a healthy future.

Gov. Green\u2019s \u201cGreen Affordability Plan\u201d would not be a cure-all for Hawaii\u2019s high costs, but it would help tremendously.

KELI’I AKINA, PH.D.,<\/strong> is president and CEO of the Grassroot Institute of Hawaii<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

by Keli\u02bbi Akina Prominent Hawaii legislators have questioned whether Hawaii can afford Gov. Josh Green\u2019s…<\/p>\n","protected":false},"author":1,"featured_media":17757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","_links_to":"","_links_to_target":""},"categories":[20,11,41],"tags":[],"featured_image_urls":{"full":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?fit=1500%2C1061&ssl=1",1500,1061,false],"thumbnail":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?fit=300%2C212&ssl=1",300,212,true],"medium_large":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?fit=640%2C453&ssl=1",640,453,true],"large":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?fit=640%2C453&ssl=1",640,453,true],"1536x1536":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?fit=1500%2C1061&ssl=1",1500,1061,true],"2048x2048":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?fit=1500%2C1061&ssl=1",1500,1061,true],"ultp_layout_landscape_large":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=1200%2C800&ssl=1",1200,800,true],"ultp_layout_landscape":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=870%2C570&ssl=1",870,570,true],"ultp_layout_portrait":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=600%2C900&ssl=1",600,900,true],"ultp_layout_square":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=600%2C600&ssl=1",600,600,true],"covernews-slider-full":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=1051%2C715&ssl=1",1051,715,true],"covernews-slider-center":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=522%2C500&ssl=1",522,500,true],"covernews-featured":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?fit=1024%2C724&ssl=1",1024,724,true],"covernews-medium":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=540%2C285&ssl=1",540,285,true],"covernews-medium-square":["https:\/\/i0.wp.com\/thefilipinochronicle.com\/backup\/wp-content\/uploads\/2023\/04\/GettyImages-1136346827-3eba69ab996a4abeb0836afe62abfd3c.jpg?resize=375%2C250&ssl=1",375,250,true]},"author_info":{"info":["admin"]},"category_info":"Featured<\/a> Hawaii - 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