February 22, 2008 - Tax Relief for Hawai`i Residents

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"To help ease the cost of living for middle and lower income residents, my Administration's budget includes targeted tax relief totaling $102 million over the next two years.
 
The `Ohana Tax Reduction Act, would provide additional tax exemptions and credits for families raising children and caring for kupuna.

We're also proposing measures to reduce the tax burden some seniors pay on retirement income; provide a refundable tax credit for modifying a home to accommodate an aging or disabled family member; and help parents save for their child's college education. 

In addition, taxpayers once again qualify for a refund as mandated under the State Constitution because of the large surplus over the past two years. 

Learn more about these critical tax relief proposals and our other 2008 initiatives by visiting my website at www.hawaii.gov/gov."