Hawaii tax revenue seen climbing 0.5 percent as economy recovers
With Hawaii's economy starting to pick up steam, the state Council on Revenues today predicted 0.5 percent growth in tax revenue for fiscal year 2010, up from the previous forecast of a 2.5 percent decline.
Gov. Linda Lingle said, "We are pleased that the Council on Revenues is now forecasting improved revenue collections. The latest projection reflects an improving economy and is an encouraging sign that Hawai'i is headed in the right direction.
"While the upward adjustment is positive, we need to remain focused on creating jobs, stimulating our economy and monitoring the state's cash flow."