Abercrombie says revised growth rate OK for budget - Hawaii News Now - KGMB and KHNL

Abercrombie says revised growth rate OK for budget

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HONOLULU (AP) - Hawaii Gov. Neil Abercrombie says revised projections showing slower tax growth than originally anticipated are OK for his budget plans for the next fiscal year.

Abercrombie said Wednesday that a supplemental budget submitted to the Legislature can accommodate revenue fluctuations and even slight declines.

He says the plan still furthers his administration's initiatives for boosting public services and reserves while planning for long-term liabilities.

The state Council on Revenues revised its forecast for fiscal 2014, saying tax revenue would grow at 3.3 percent instead of 4.1 percent.

State Finance Director Kalbert Young says 3.3 percent is still optimistic growth for the state. He says it's enough to carry out the administration's six-year plan.

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