Hawaii Tax Man Expecting Less Money This Year

HONOLULU, OAHU (Ben Caxton) — State of Hawai`i officials have dramatically lowered their growth predictions for the coming year. The state Council on Revenues voted to reduce its official forecast downward to 4.2% from its previous estimate of 5% growth. The change means the state will have $55 million dollars to spend this fiscal year, if correct. The state legislature relies on estimated from the council, composed of economics experts, during the state’s budgeting process.

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