04-13-2010, 07:24 AM
House Bill 2421, aka the barrel tax bill, will raise the state tax on a barrel of oil brought into Hawaii to $1.05 from 5 cents.
It is being supported by all of the Democratic representatives.
This bill will have a cumulative effect. Electricity will go up as well as anything that is shipped inter-island. Because companies will have to raise prices to cover their increased costs on oil/fuel usage, they will also be charging more to make up for the increase in the GET that will result from the higher prices!
This is yet another tax upon a tax. Our state must cut spending instead of raising taxes if they want to get out of the current fiscal mess they put themselves in.
It is being supported by all of the Democratic representatives.
This bill will have a cumulative effect. Electricity will go up as well as anything that is shipped inter-island. Because companies will have to raise prices to cover their increased costs on oil/fuel usage, they will also be charging more to make up for the increase in the GET that will result from the higher prices!
This is yet another tax upon a tax. Our state must cut spending instead of raising taxes if they want to get out of the current fiscal mess they put themselves in.