Posts tagged ‘GET exemption suspension’

June 29, 2011

A Small Price to Pay: GET Exemption Suspensions the Best Choice to Close Hawaii’s Budget Deficit

TaxesFrom 2009 through 2010, nearly 171,000 Hawai’i public school students were faced with furlough Fridays – accounting for the U.S.’s shortest school year. According to the Time article “ Hawaii’s Fight Over School Furloughs Heats Up,” the furloughs were former Governor, Linda Lingle’s “solution to a projected budget deficit of nearly $1 billion.” Today, our state has emerged past the furloughs in search of other methods to overcome our budget deficit. The most effective ways to do so include more budget cuts or tax changes. State lawmakers and current Governor, Neil Abercrombie, have recently adopted a bill that generates revenue by suspending general excise tax (GET) exemptions on approximately twelve business industries. This tax revenue, coupled with smaller budget cuts, will allow our state to emerge from its debt without slashing programs and services important to the welfare of our citizens.

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