Hawaiʻi Budget and Policy Center Director Beth Giesting talks with Hawaiʻi Public Radio about what we can do here in Hawaiʻi to prepare for the next economic recession.
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.
Shifting some of the state’s tax burden would result in a more equitable, and profitable, system.
To address mounting retirement obligations, Hawai‘i’s public employers have agreed to make actuarially determined payments over 30 years to pay down unfunded liabilities and grow the pension and health fund trusts that help fund future public contributions. These payments, which are largely supported by state and county taxes and fees, will be a sizeable burden in a small state like Hawai‘i.
Good health isn’t just a result of having health insurance. Public policy affects health outcomes for people across the state, and we should make forward-thinking reforms to expand access to housing, nutrition, early childhood education and more, if we hope to keep Hawaiʻi at the top of the national health rankings.