Senator Stanley Chang

Hawaii State Senator (D), proudly representing East Honolulu. Hawaii State Capitol, Rm 226. Together, we can solve the housing shortage.

[Senator Stanley Chang @stanleypchang]

On behalf of the Hawai'i State Legislature, we're wishing everyone a happy, prosperous, and healthy 2025 Lunar New Year.

[Senator Stanley Chang @stanleypchang]

That's why I'm hopeful that this OpenAI deal could revolutionize the way government operates in this country and greatly expand its ability to deliver public services and benefits without raising taxes.

The end.

[Senator Stanley Chang @stanleypchang]

That would have a powerful psychological effect. Government would be respected, rather than scorned. Government would also view itself differently: more like an entrepreneur able to identify opportunities.

[Senator Stanley Chang @stanleypchang]

Perhaps most important would be the fundamental change in the relationship between government and the people. Instead of the government as a profligate, impoverished entity whose growth comes as the expense of taxpayers, it would be a rich benefactor helping every family.

[Senator Stanley Chang @stanleypchang]

The State of Hawaii has a number of revenue streams that could be used to fund a sovereign wealth fund, from the $700 million Plavix settlement last year to the $1.5 billion rainy day fund to the $129 million per year Green Fee on hotel rooms.

[Senator Stanley Chang @stanleypchang]

At the federal level, @sentimkaine and @SenBillCassidy have a plan to shore up Social Security by investing $1.5 trillion into equities, which would grow for 75 years before being tapped.

[Senator Stanley Chang @stanleypchang]

That would increase the revenues available for public services that can be offered to our people, from child care to higher education to home ownership--without raising taxes.

[Senator Stanley Chang @stanleypchang]

If the federal government were to invest Social Security payroll taxes, for example, into the private markets, it could take advantage of the faster long term appreciation of asset prices than taxable income.

[Senator Stanley Chang @stanleypchang]

Alaska and New Mexico have good examples of sovereign wealth funds in the US. Alaska gives free money to every resident every year, and New Mexico just announced free child care for all families.

[Senator Stanley Chang @stanleypchang]

How are they able to have their cake and eat it too? Sovereign wealth funds. Like many families, they save part of the revenues from their normal operations, like land sales, invest them in securities, and watch their investments grow.

[Senator Stanley Chang @stanleypchang]

Yet they both provide excellent services to their people. Hong Kong gives free money (known as "fruit money") every month to all senior citizens, regardless of income. Singapore builds some of the world's best public housing, which houses 80 percent of its population.

[Senator Stanley Chang @stanleypchang]

On the one hand, they are low tax, business-friendly jurisdictions consistently ranking high on the Heritage Foundation's list of freest economies. Singapore is currently #1, and Hong Kong was #1 for 25 years until 2020, when it was delisted.

[Senator Stanley Chang @stanleypchang]

This is potentially one of the most important policy decisions of the 21st century. Imagine the federal government buying equity in companies like Coca-Cola and IBM in 1937 with Social Security payroll taxes. It would be so rich today!

Thread below.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: OpenAI has proposed giving the Trump Administration a 5% stake in the company to "clear political obstacles," per FT.

Details include:

1. Sam Altman has argued that giving the public a financial stake in the company is the best way to share the upside of AI

2. OpenAI is reportedly in "early talks" for a public ownership deal as political pressure rises

3. The proposed arrangement would involve other US AI companies handing over a similar stake

4. Sam Altman is reportedly in active talks with the Trump Administration about the situation

The Trump Administration may soon have equity in US AI giants.

[Senator Stanley Chang @stanleypchang]

Over the course of my travels studying housing systems around the world over the past decade, I noticed something interesting about Singapore and Hong Kong.

[Rotimi Adeoye @_rotimia]

Democrats have a chance to make a unique promise to Americans going into the midterms and 2028: if you vote for Democrats, work hard, and pay taxes, the government will help you buy your first home by the time you are 30, my first essay with @nytopinion https://t.co/XbX1bS0Ziv

[Senator Stanley Chang @stanleypchang]

@MattZeitlin https://t.co/6x5YScNMIn

[Senator Stanley Chang @stanleypchang]

@MattZeitlin https://t.co/cX83Ntoo54

[Paul E Williams @PEWilliams_]

The time has come to raise the housing investment level in this country, just as we did in the 1960s and 1980s.

We have a new report out this morning laying out just how high housing production numbers need to go—and for how many years—to dig us out of the shortage.

[Senator Scott Wiener @Scott_Wiener]

To end our nation’s massive housing shortage — essential to making housing more affordable & lowering overall cost of living — we need every kind of housing, with participation by both private sector & government.

Social housing is a key part of a national housing strategy. 🧵

[Paul E Williams @PEWilliams_]

Center for Public Enterprise x @stanleypchang crossover event

[Senator Scott Wiener @Scott_Wiener]

SB 79 — our bill allowing more housing near public transportation — just received final approval by the Senate & IS ON ITS WAY TO THE GOVERNOR!

This bill is a huge step for housing, transit & climate action. Thank you colleagues!