State Senate Proposes ‘Fiscally Responsible Budget’
The Senate Ways and Means (WAM) Committee proposed a “fiscally responsible” budget yesterday, April 1, that balances financial obligations with public priorities and overtaxing of Hawai‘i residents and businesses.
According to Senator Jill Tokuda (D 24th District), the proposed budget measure can be signed by the Governor today, April 2.
“Our budget is [the] result of a disciplined approach to budgeting that excludes placeholders for later deliberation, reflects tough decisions based on sound justifications, identifies and supports legislative priorities and brings us to a positive budgetary target faster than had been planned while still providing for a required constitutional tax refund or budget reserve deposit,” said Sen. Tokuda.
The Senate proposal appropriates $403 million in general funds for FY 2015-2016, which is $3.6 million below the Executive branch’s request. In additional, $720 million in general funds would be appropriated for FY 2016-2017, which falls $11.1 million below the Executive request.