In total, all of the changes in SB 3125 could save Hawaiʻi an estimated $680 million over the next five years (according to initial projections). This revenue will be crucial for preserving the common goods in our state budget—priorities like Medicaid and SNAP. Here are a few of the specific provisions in the bill:

• Halts planned income tax cuts for the highest-income households.
• Preserves the income tax cut schedule from Act 46 (2024) for joint filers under about $350,000 in income, heads of household under about $262,500, and single filers under about $175,000.
• Adds a new marginal tax rate of 13 percent on high-income single filers earning over $500,000 and married couples earning over $1 million.