The figures from the Council on Revenues are in: there is enough added revenue from increased income taxes on the wealthy to pay for an expansion of the most successful anti-poverty tax credit currently available.
In this report, the Hawai‘i Budget & Policy Center takes a closer look at what happened during the “Great Recession.” Our goal is to help our government and community leaders plan now for better outcomes the next time jobs, earnings and economic security shrink.
The new budget totals $20.8 billion compared with $17.5 billion for 2019. The 19 percent budget increase represents an additional $3.3 billion, most of which will be spent on capital improvement projects.
The first of a two-part analysis of the results of the increasingly opaque state budget process this past legislative session, and what we can expect in terms of revenues, funding and expenditures for the upcoming 2020 fiscal year that begins July 1, 2019.
A walk-through of the lifecycle of the State of Hawaii's biennium budget, from the beginning of the process over the summer of each odd-numbered year to its passage through the Legislature and signage by the governor the following year.
Here we briefly look at a few patterns in how the state is collecting and spending money gathered from revenue, both past and present.