Tax Break For Flood Victims - Hawaii News Now - KGMB and KHNL

Tax Break For Flood Victims

(KHNL) Last night lawmakers agreed to provide more than fifty million dollars in tax relief and give a tax credit to victims of the recent heavy rains and floods. But some say the tax breaks won't help a majority of flood victims and others feel the extra money should be put to better use.

Raymond Lalosin is still recovering from last month's devastating flood, "and we're not done yet. I'd estimate it's about 75 percent done." By the time he's done, Lalosin estimates the repairs to his home will cost around 40-thousand dollars. With the proposed tax credit, Lalosin would be eligible for 10-percent of damage not covered by insurance up to 10-thousand dollars.

Lawmakers also agreed to expand income tax brackets by twenty percent. Some would pay lower taxes, but most of the relief would go to those making little money. Low income families, students, and part time workers. 

That credit will cost the state about forty million dollars a year. The flood victim credit would cost the state more than 9-million. 

Lalosin says, "i'll probably take it, won't mean much but i'll take it."

Final votes on all bills are next week, before the session ends. If passed, they will then go to Governor Lingle for her approval.

  • Hawaii News Now headlinesNewsMore>>

  • High Court: Online shoppers can be forced to pay sales tax

    High Court: Online shoppers can be forced to pay sales tax

    Thursday, June 21 2018 10:32 AM EDT2018-06-21 14:32:03 GMT
    Saturday, June 23 2018 6:35 AM EDT2018-06-23 10:35:24 GMT
    (AP Photo/Jessica Gresko, File). FILE - This April 23, 2018, file photo shows the Supreme Court in Washington.  The Supreme Court says states can force online shoppers to pay sales tax. The 5-4 ruling Thursday is a win for states, who said they were lo...(AP Photo/Jessica Gresko, File). FILE - This April 23, 2018, file photo shows the Supreme Court in Washington. The Supreme Court says states can force online shoppers to pay sales tax. The 5-4 ruling Thursday is a win for states, who said they were lo...

    The Supreme Court says states can force online shoppers to pay sales tax.

    More >>

    The Supreme Court says states can force online shoppers to pay sales tax.

    More >>
  • In reversal, Trump orders halt to his family separation rule

    In reversal, Trump orders halt to his family separation rule

    Wednesday, June 20 2018 11:21 AM EDT2018-06-20 15:21:21 GMT
    Saturday, June 23 2018 6:33 AM EDT2018-06-23 10:33:57 GMT
    A boy stares out of a heavily tinted bus window leaving a U.S. Customs and Border Protection facility Tuesday in McAllen, TX. (AP Photo/Eric Gay)A boy stares out of a heavily tinted bus window leaving a U.S. Customs and Border Protection facility Tuesday in McAllen, TX. (AP Photo/Eric Gay)

    Trump signs executive order to keep families together at border, says 'zero-tolerance' prosecution policy will continue.

    More >>

    Trump signs executive order to keep families together at border, says 'zero-tolerance' prosecution policy will continue.

    More >>
  • Lawyer: No apparent justification for fatal shooting of teen

    Lawyer: No apparent justification for fatal shooting of teen

    Thursday, June 21 2018 8:22 AM EDT2018-06-21 12:22:06 GMT
    Saturday, June 23 2018 6:28 AM EDT2018-06-23 10:28:39 GMT
    (Steve Mellon/Pittsburgh Post-Gazette via AP). Leonard Hammonds II, of Penn Hills, right, points out that a Turtle Creek Police officer has his had on his weapon during a rally in East Pittsburgh, Pa., on Wednesday, June 20, 2018, at a protest regardin...(Steve Mellon/Pittsburgh Post-Gazette via AP). Leonard Hammonds II, of Penn Hills, right, points out that a Turtle Creek Police officer has his had on his weapon during a rally in East Pittsburgh, Pa., on Wednesday, June 20, 2018, at a protest regardin...

    Hundreds of people took to the streets to protest the fatal police shooting of a 17-year-old boy killed just seconds after he fled a traffic stop during a confrontation partly captured on video.

    More >>

    Hundreds of people took to the streets to protest the fatal police shooting of a 17-year-old boy killed just seconds after he fled a traffic stop during a confrontation partly captured on video.

    More >>
Powered by Frankly