As we ready for the 31st Legislature to convene on January 20th, the historic budget deficit is top of mind for everyone at every level. Between poor vaccination administration and virus mutations, it’s not likely that we’ll return to pre-pandemic economic activity any time soon. While the Governor has proposed several budget-cutting ideas, austerity measures can only go so far. We must consider revenue generators and luckily for us, Hawaii has already seen a bill that could generate >$46 million in annual revenue if passed (by conservative estimates). In 2019, the REITs taxation bill was approved by both the House and Senate but was ultimately vetoed by Governor Ige. This bill will be introduced yet again and with likely resounding support this session. Learn more about what REITs are, how they benefit from a tax loophole while profiting off Hawaii land and resources, and why they should pay their fair share of taxes (as we all do). Contact Governor Ige and let him know that you believe REITs should be taxed as a matter of equity. We all pay taxes; REITs should too.
Faith Action will be sending out action alerts soon to notify our members and allies to contact your legislators and Governor Ige. We want this bill to be heard and we will be submitting testimony in support of REITs taxation. Stay tuned!
Find our REITs FAQ sheet below and please share with your member units!