The state Council on Revenues left unchanged its prediction of the government’s income Thursday, a forecast lawmakers relied on when approving a new two-year budget for the state earlier this month.
The Council concluded that the economy is gradually recovering, and tax collections to the government also are expected to steadily increase over the next few years.
Their assessment likely eliminates the potential need for the Legislature to return to the Hawaii Capitol for further spending cuts.
Tax collections were off by 2.3 percent through the first 10 months of the fiscal year, and the Council on Revenues estimated the state’s income would be down only 1.6 percent by June 30.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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