Council On Revenues Chops 2012 Growth Forecast

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The Hawaii Council on Revenues has cut its revenue growth projection for the current fiscal year by three percentage points from 14.5 percent to 11.5 percent. Not a big surprise, considering the state of the U.S. economy as a whole. 

State lawmakers were already prepared for the news. Senate Ways and Means Chair David Ige told Civil Beat last month that he felt the 14.5 percent forecast was overly rosy. More to come on this story.

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