June 3, 2005 Council on Revenues

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Aloha!

Recognizing Hawai`i’s strong economy, the Council on Revenues is forecasting that the state will have $1.36 billion more in revenues between fiscal years 2006 and 2011 than had been estimated under the Council’s earlier projections.

This robust outlook reaffirms that it’s time to allow our residents to benefit from the state’s growing economy.

When the Legislature reconvenes in January, our Administration will again lead the effort to pass meaningful tax relief.

These measures will include lowering the amount of income that gets taxed for our lowest wage earners, and providing tax credits on purchases of food, prescription medicine, and long-term care insurance.

While our state is enjoying a vibrant economy today, now is also the time to take steps to ensure this economic momentum continues. 

In the coming weeks, I will share more on what my Administration is doing to keep our economy moving forward.

Mahalo.  This is Governor Linda Lingle.