Green says his plan would help stem the exodus of people leaving the islands for less expensive places.
The feds announced another aggressive rate hike — the third consecutive increase of three-quarters of a percentage point and the sixth rate hike this year alone. Lawrence Yun, chief economist with the National Association of Realtors, discusses its impact on the housing market.Hawaii Gov. Josh Green on Monday proposed investing $1 billion in affordable housing and giving tax breaks to people of all income levels to lower the cost of living in the islands.
"This plan makes sure every income bracket does a little better and directly lowers the cost of living for every single resident by keeping more money in our pockets for each taxpayer, especially those who are wrestling with survival," Green said. The governor paused mid-speech to sign an emergency proclamation making it easier for the state to build 12 small villages for homeless individuals -- what he calls Kauhale Homes. Each village is expected to house between 100 and 150 people. One of the first will be in Kailua-Kona, at the Kukuiola Emergency Shelter and Assessment Center.
State law requires the governor and lawmakers to draft their budgets based on the council’s revenue forecasts. The predictions are expected to be updated in March. "I think it’s a good idea to be bold, as the governor said. But I think the devil’s always in the details," he said. "Because the House has priorities. I’m sure the Senate has. And we’ll see how that all pencils out."
House Majority Leader Rep. Nadine Nakamura said Green’s proposals on housing and Kauhale Homes were consistent with the House’s position.
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