Report Title:

Federal Business Expense Tax Reduction; Increase

THE SENATE

S.C.R. NO.

73

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 
   


SENATE CONCURRENT

RESOLUTION

 

REQUESting an increase to the business expense federal tax deduction.

 

WHEREAS, the purpose of the Internal Revenue Code is not to collect tax revenue, but to reflect sound economic policy; and

WHEREAS, encouraging free enterprise and fostering an environment that is conducive to entrepreneurship and economic growth is a hallmark of American economics and should also be reflected in the Internal Revenue Code; and

WHEREAS, the business expense tax deduction for meals and entertainment spurs economic activity by promoting the patronage of local restaurants and other entertainment related activities; and

WHEREAS, a major portion of Hawaii's economy revolves around the travel, tourism, and entertainment industries and an increase to the allowable business expense federal tax deduction would substantially benefit those industries directly and Hawaii's overall economy; now, therefore,

BE IT RESOLVED by the Senate of the Twenty-First Legislature of the State of Hawaii, Regular Session of 2001, the House of Representatives concurring, that the Congress and President of the United States are requested to increase the allowable business expense federal tax deduction from fifty per cent to eighty per cent; and

 

BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the President of the United States, the Speaker of the United States House of Representatives, the President of the United States Senate, and the Congressional Delegation of the State of Hawaii.

 

 

 

OFFERED BY:

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