GOVERNOR LINGLE TO OUTLINE NEED TO CURB RUNAWAY SPENDING BY LEGISLATURE; FOCUS ON JOB CREATION
UPDATE: AUDIO RECORDING OF SPEECH, Q&A
Here is the link to the audio of Governor Lingle's remarks at the Pearlridge Rotary Club meeting.
The second link is Q&A with the media that took place after the Governor's remarks.
HONOLULU – Governor Linda Lingle will deliver a speech today on the dire fiscal and economic consequences facing the state if the Legislature does not immediately address the need to curb spending and drop a proposed 25 percent increase in the general excise tax as well as other tax and fee increases.
The Governor, who yesterday went over her Administration’s updated balanced six-year financial plan with the Senate Ways and Means Committee, will deliver her remarks to the Pearlridge Rotary Club today at noon at the Pearl Country Club, 98-535-Kaonohi Street in ‘Aiea.
“The Legislature’s failure up to this point to focus on immediate measures that will reduce government spending and create jobs for our residents is putting the future economic well-being of our state in jeopardy,” said Governor Lingle. “Instead of taking action that will help get people back to work, the Legislature is attempting to further burden our residents and businesses with a 25 percent increase in the general excise tax, a $1 tax on every barrel of oil shipped into the state that would raise the cost of living and doing business, a 30 percent tax increase on timeshares and numerous other unjustifiable fees on small businesses.
“These are job-killing bills that will severely impede economic recovery for our state, increase the number of residents on unemployment and leave many families with no choice but to leave our state in search of work and a cost of living they can afford,” the Governor added.
“If the Legislature continues down this dangerous path, Hawai‘i will end up a fiscal basket case like New York, Illinois and New Jersey which are facing large job loss, reduced bond ratings and cash flow problems,” said Governor Lingle.