Business Report: Council on Revenues Report - Hawaii News Now - KGMB and KHNL

Business Report: Council on Revenues Report

(Hawaii News Now) - The Council on Revenue revises its tax revenue forecast down - and down more than expected - from up 3-point-3 percent to flat, same as last year - which means, 180 million dollars less revenue than the legislature had previously been led to expect.  It was widely expected the Council on Revenues would lower its forecast for Hawaii economic growth, and therefore for tax revenues.

  • The state collected more than $400 million in tax revenue in February, bringing total revenue for the budget cycle now two-thirds over to more than $3.5 billion. That's down 1.1% from the same point a year ago, a difference of roughly $40 million. Excise tax collections are down 1.8%.
  • Almost 500 Molokai residents came to the launch party for Hawaiian's Ohana turboprop service, which began yesterday with the midday flight. The morning flight is flying for the first time this morning, 7 a.m. departure, should be on the ground on Molokai by 7:30.
  • Norwegian Cruise Line takes a stand. One of its ships made a port call in Tunis only to find port authorities would not allow Israeli nationals to disembark. NCL has canceled all future Tunisia visits, to send, it says, a clear message it doesn't tolerate discrimination against any of its passengers.

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