Neil Abercrombie

“ Expands eligibility for the $1,000 child tax credit and the earned income tax credit. Extends the deduction for college tuition. Expands tax rebates to working parents too poor to pay income tax. Extends for one year the special rules that allow members of the armed forces to include combat pay as earned income to qualify for earned income tax credit. Extends the deduction for state and local sales taxes. Extends deductions of up to $250 per claim for teachers who pay for school supplies out of their pockets. ”

“ According to the IRS, in 2006 there were 15,105 C corporation or other corporate tax returns in Hawaii. Extends a provision allowing businesses to deduct the value of computer equipment and software donated to elementary, secondary and post secondary schools. Reduces the corporate tax rate from 35% to 30.5%, removing an incentive for businesses to move jobs overseas. ”

“ Extends the research and development credit Extend for one year the provision allowing businesses to claim an enhanced deduction for the contribution of food inventory Extends the provision allowing C corporations to claim an enhanced deduction for contributions of book inventory to public schools. ”