Hawaiʻi cannot build a livable future for our keiki, our kūpuna, and our most vulnerable families when our tax structure protects the ultra-rich and large corporate interests while placing disproportionate burdens on working people. The 2025 federal budget overhaul threatens $3.5 billion of Hawaiʻi’s $4.6 billion in federal funding, jeopardizing Medicaid, SNAP, kupuna care, disability supports, public education, child welfare, and affordable housing programs. At a moment of such uncertainty, we must decide whether we will protect billionaires and multinational shareholders—or the people who rely on these essential systems every day.

 

I choose our people.

 

For too long, Hawaiʻi’s tax code has allowed the wealthy to benefit from our land, infrastructure, and workforce while contributing far less than the families who keep our communities running. A comprehensive package of progressive revenue measures can reverse this imbalance and raise well over $1.4 billion in new annual revenue, ensuring the stability of the services our communities depend on.

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A new 16% top income bracket for million-dollar earners (HB 928) would generate $182 million in its first year, finally asking the wealthiest households to contribute proportionally to the public good. Ending the single-sales-factor loophole, which allows large corporations to underreport profits in Hawaiʻi, would bring in an additional $135 million, leveling the playing field for local businesses. Closing the capital-gains loophole, which currently taxes wealth at a lower rate than wages, would raise more than $80 million and restore basic fairness. Together, these reforms shift Hawaiʻi’s tax system toward equity and economic stability.

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Further measures are equally critical to building a state where all of us can thrive. A modest increase in the corporate income tax—still far below federal levels prior to 2017—would generate $75–$185 million and ensure that multinational firms benefiting from Hawaiʻi’s people and infrastructure contribute appropriately. Enforcing worldwide combined reporting would recapture $85 million by preventing corporations from hiding profits offshore. Phasing out lower tax brackets for millionaires would add $18.5–$153.9 million, reinforcing fairness at the top of the income scale. Raising mansion conveyance taxes on high-value properties, which are often purchased by nonresidents or speculative entities, would generate $17–$71.5 million, while adjusting estate and inheritance taxes—which currently shield large concentrations of inherited wealth—adds $6.6–$18.3 million in annual revenue. Ensuring that REITs, which own more than $17 billion in Hawaiʻi property, finally pay their fair share would produce $30–$60 million, helping to fund housing, healthcare, and ʻāina protection.

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Beyond these established measures, Hawaiʻi has additional tools to strengthen public revenues and reduce dependence on volatile federal funding. A commercial rent tax on large corporate landlords could generate roughly $200 million, rebalancing a commercial market increasingly dominated by off-island investment firms. A financial transactions tax of just 0.1% on high-volume trading could raise $300–$600 million, ensuring that speculative financial activity finally contributes to the public systems that sustain our state. A tax on excess CEO pay—targeted at companies where executives earn more than fifty times their lowest-paid workers—would both generate revenue and create incentives for wage equity. And forward-looking investments such as a public bank, a sovereign wealth fund, or state-owned enterprises in sectors like renewable energy or public housing would allow Hawaiʻi to finance major infrastructure projects, keep wealth circulating locally, and eventually generate dividends for public benefit.

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Together, these progressive revenue reforms make it possible to reinvest directly in the people of Hawaiʻi: our kūpuna, who deserve dignity and reliable long-term care; our keiki, who deserve fully funded schools, safe learning environments, and affordable childcare; our working families, who need stable housing, strong food systems, and accessible healthcare; our rural communities, such as Wahiawā, which have suffered from hospital closures and chronic underinvestment; people with disabilities, who depend on consistent services; and youth and families in crisis, including those touched by child welfare or the juvenile justice system. Tax fairness is not about punishing wealth—it is about ensuring responsibility, stability, and care for all who call Hawaiʻi home.

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By asking the ultra-rich and the largest corporations to contribute their fair share, Hawaiʻi can rebuild what has been lost, protect what remains, and create a future where every family—not just the wealthy—can afford to stay, grow, and thrive. Progressive revenue is how we build a Hawaiʻi where all of us can flourish, with justice, integrity, and care.