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Council on Revenues Lowers Forecast for Fiscal Year

Council on Revenues Lowers Forecast for Fiscal Year

The state Council on Revenues on Tuesday lowered the state's revenue forecast for this fiscal year.  The council projected 3.3 percent revenue growth for fiscal 2014, down from 4.1 percent in September.  That's an estimated $43 million loss to the state. The lower revenue projection was anticipated by state House and Senate leaders who have said they will cautiously consider Governor Neil Abercrombie's requests for new state spending. The governor has proposed a $12.2 billion supplemental budget for fiscal year 2015. That's a $283.8 million increase.  

 

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