HONOLULU — The state’s Council on Revenues is predicting Hawai‘i is on course to collect more tax revenue this year because of a faster-than-expected economic recovery. Economists on the council said Thursday that tax collections once predicted to drop 2.5
HONOLULU — The state’s Council on Revenues is predicting Hawai‘i is on course to collect more tax revenue this year because of a faster-than-expected economic recovery.
Economists on the council said Thursday that tax collections once predicted to drop 2.5 percent during the current fiscal year ending June 30 are on course to grow 0.5 percent instead.
University of Hawai‘i Economic Research Organization professor Carl Bonham says the state could see an additional $1 billion in revenue over the next three fiscal years.
But economist Paul Brewbaker also cautions the economic recovery will probably end this summer.
