The Libertarian Party of Hawaii was opposed to SB1043/HB959, a legislative proposal related to taxation, due to several concerning points. However, we find ourselves in support of the revised version. Outlined below are our concerns regarding the original proposal and why the amended bill aligns more closely with our principles.
The Original Version:
Incremental Tax Increases: Increasing taxes contradicts our belief in minimal government interference in personal finances.
Tax Exemption & Deduction Scheme: By opposing this measure, we advocated for a less complicated and demanding tax structure that allows for more straightforward financial planning. We believe that the market should determine outcomes, not government intervention.
Maui Recovery Special Fund: Aside from the fact that this is yet another tax increase, we were very concerned about the government’s ability to effectively manage and allocate these funds without bureaucratic inefficiencies, especially in light of their recent history. Without something like the proposed emergency bill passing first, the expenditures would have virtually no oversight.
The New Version:
Exempts Grocery taxes
Exempts nonprescription drug taxes
After reviewing the amended version, we were pleasantly surprised. It was slashed completely, going from 42 pages down to only 2. The amended version left only tax cuts while eliminating all the bad portions.
We believe this new version would support lower-income households and promote individual freedom in purchasing decisions.
The Libertarian Party of Hawaii remains committed to advocating for individual liberties and minimal government interference. We initially opposed SB1043 due to its potential negative impacts on taxpayers and the economy, but the amendments made to the bill are a night and day difference. We believe that the revised version aligns more closely with our core values and supports the residents of Hawaii in a fair and efficient manner.
Help Us Reduce Taxes:
Testimony is open now, and the hearing is set for February 27. Take action today!
Click on the hyperlinks to familiarize yourself with the bill text(s). SB1043/HB959
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