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No growth in revenue predicted for state

The Council on Revenues issues a forecast lowering expectations through fiscal 2015

By Derrick DePledge

POSTED: 01:30 a.m. HST, Mar 12, 2014

~~<p>The state Council on Revenues on Tuesday predicted zero revenue growth for this fiscal year and reduced the growth projection for next fiscal year, a significantly downgraded forecast that could handcuff state lawmakers as they draft revisions to the state budget.</p>
<p>The council dropped the projection to zero growth for the fiscal year that ends in June, down from 3.3 percent growth in the forecast made in January, a $180 million loss of revenue for the state. The council lowered the projection to 5.5 percent growth for fiscal year 2015, down from 7.4 percent growth, an estimated $100 million loss.</p>
~~

The state Council on Revenues on Tuesday predicted zero revenue growth for this fiscal year and reduced the growth projection for next fiscal year, a significantly downgraded forecast that could handcuff state lawmakers as they draft revisions to the state budget.

The council dropped the projection to zero growth for the fiscal year that ends in June, down from 3.3 percent growth in the forecast made in January, a $180 million loss of revenue for the state. The council lowered the projection to 5.5 percent growth for fiscal year 2015, down from 7.4 percent growth, an estimated $100 million loss. Login for more...



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