Bill > HCR106

This Concurrent Resolution urges Hawaii's representatives in the U.S. Congress to introduce and support legislation that would completely remove the $10,000 limit, known as the SALT cap, on the amount of state and local taxes individuals can deduct from their federal income taxes. This cap was established by the Tax Cuts and Jobs Act of 2017, a major revision of federal tax laws. The resolution argues that the SALT cap is causing financial hardship for Hawaii residents by reducing their after-tax income, negatively impacting the state's economy, and disproportionately affecting Hawaii compared to other states due to its cost of living and tax rates. It also notes that the cap doesn't account for factors like inflation or marital status and that working people in Hawaii are in urgent need of tax relief.