HONOLULU (HawaiiNewsNow) - Republican candidate for governor, Duke Aiona, is proposing to build more affordable homes in Hawaii by using corporate tax revenue.
Aiona says he would set aside 25 percent of corporate taxes for a total of about $130 million over seven years, resulting in nearly 2,200 new units priced under $1,800 a month.
"This additional funding will provide potential developers and builders of affordable rentals with a known and stable funding source," Aiona said in a press conference Tuesday. "The funding source is not a tax increase."
According to Aiona, the plan will reduce the affordable housing shortfall in Hawaii by 91 percent, providing more than 6,500 families and 19,000 individuals with reliable rentals.