Daily Archives: May 1, 2003

Representative Jon Riki Karamatsu
Floor Speech on Senate Bill 377, S.D. 1, H.D. 2., C.D. 1
Thursday, May 1, 2003

Mr. Speaker, I rise in support.

Looking at the big picture, this Ko Olina Resort tax credit and our hotel construction and remodeling tax credit will help modernize our tourism industry to be competitive as a global destination.

While we are encouraging the diversification of our economy through Act 221, which encourages the development of our knowledge-based industries, we must not neglect our number one industry, tourism. We must do what we can to maintain our tourism industry so we can bring past visitors and future visitors to come.

Thank you Mr Speaker.

Representative Jon Riki Karamatsu
Floor Speech on House Bill 1400, H.D. 1, S.D. 2, C.D. 1
Thursday, May 1, 2003

Mr. Speaker, I rise in support.

The hotel construction and remodeling tax credit in this bill will help stimulate our economy by bringing in new investment and improvements critical to the visitor industry. Specifically, in Waikiki, this bill will help revitalize old and worn hotels and make Waikiki a modern, state of the art location to visit. By upgrading and diversifying our product, construction jobs will be provided and visitors will be given new reasons to visit Hawaii.

Thank you Mr. Speaker.

All tax increase bills are no longer moving except one, the long-term care tax credit. I voted “no” on this measure because I believe such a tax increase will be difficult on our fragile economy.

The Finance and Ways and Means Committees restored much of the education and higher education cuts proposed by the Administration. In addition, the Administration tried to “gut” Act 221. The House has defended Act 221 because it is an investment to build knowledge-based industries in Hawaii.