[Congressional Record Volume 164, Number 86 (Thursday, May 24, 2018)]
[Senate]
[Pages S2922-S2923]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        PETITIONS AND MEMORIALS

  The following petition or memorial was laid before the Senate and was 
referred or ordered to lie on the table as indicated:

       POM-237. A resolution adopted by the House of 
     Representatives of the State of Hawaii urging the President 
     of the United States and the United States Congress to 
     mitigate the high, disproportionately adverse impacts of the 
     Tax Cuts and Jobs Act of 2017 on Hawaii citizens by 
     increasing federal funding of Hawaii housing initiatives; to 
     the Committee on Banking, Housing, and Urban Affairs.

                        House Resolution No. 187

       Whereas, Hawaii's cost of living is the highest in the 
     nation; and
       Whereas, utility costs in Hawaii are 106.5 percent higher 
     than national average; and
       Whereas, housing costs in Hawaii are 103.3 percent higher 
     than the national average; and
       Whereas, the national median price of a single-family home 
     is currently $241,700, while the median price in Hawaii is 
     currently $772,000; and
       Whereas, experts estimate that Hawaii faces a shortage of 
     five thousand housing units, illustrating the depth of the 
     State's housing crisis; and
       Whereas, the median age of a single-family home in Hawaii 
     is between thirty to thirty-nine years old, which is 
     disproportionately older than the median age in other states; 
     and
       Whereas, the older age of Hawaii homes means homeowners 
     often invest considerable amounts for repairs and upgrades; 
     and
       Whereas, the Tax Cuts and Jobs Act of 2017 reduces the debt 
     amount eligible for the mortgage interest deduction from 
     $1,000,000 to only $750,000, and eliminates the tax deduction 
     interest on home equity loans if the loan proceeds are used 
     for purposes unrelated to the taxpayer's home; and
       Whereas, many tax credits that benefit persons with lower 
     incomes will sunset in 2027, creating a more regressive tax 
     system with higher tax liabilities for those who can afford 
     it least; and

[[Page S2923]]

       Whereas, the changes created by the Tax Cuts and Jobs Act 
     of 2017 will affect a disproportionately high percentage of 
     Hawaii residents compared to other states because of Hawaii's 
     unique physical and economic environment; and
       Whereas, Hawaii currently ranks as one of the states that 
     is least dependent on federal aid, with federal assistance 
     comprising only 22.8 percent of general revenues: Now, be it
       Resolved, By the House of Representatives of the Twenty 
     ninth Legislature of the State of Hawaii, Regular Session of 
     2018, that the President of the United States and the United 
     States Congress are urged to mitigate the high, 
     disproportionately adverse impacts of the Tax Cuts and Jobs 
     Act of 2017 on Hawaii citizens by increasing federal funding 
     of Hawaii housing initiatives; and be it further
       Resolved, That the President of the United States and the 
     United States Congress are urged to request the United States 
     Department of Housing and Urban Development to increase 
     funding levels to Hawaii programs, regardless of potential 
     budget cuts to that department in pending federal 
     appropriations bills; and be it further
       Resolved, That certified copies of this Resolution be 
     transmitted to the President of the United States, Vice 
     President of the United States, Majority Leader of the United 
     States Senate, Speaker of the United States House of 
     Representatives, members of Hawaii's congressional 
     delegation, United States Secretary of Housing and Urban 
     Development, Governor, Director of Human Services, and 
     Executive Director of the Hawaii Public Housing Authority.

                          ____________________