HONOLULU (AP) - Hawaii Gov. Neil Abercrombie says there should be tax relief for elderly people who live on fixed incomes.
He says in his annual State of the State address Tuesday that he will be asking the Legislature to bring what he considers “equity and fairness” to the way senior citizens are taxed.
He proposes exempting any presently taxed income for those 65 and older with an adjusted gross income of $25,000. That income would be $35,000 for heads of households or $45,000 for joint filers.
He says this assures seniors will not have their retirement income taxed and that the plan will help at least 25,000 Hawaii seniors.
He also proposes doubling the refundable food/excise tax credit for those 65 years or older whose adjusted gross income is less than $50,000.