Senator Slom Comments on Debt Ceiling

The Government Plan to Hobble America’s Economic Strength

We are not creating private jobs nor improving our business and investment climate. But we can. The futurist and author Joel Kotkin addressed the Council of State Governments—West Conference in Hawaii last week. His admonition was to talk to the private job creators—not government—about adding needed income producing jobs. We need to incentivise private employers to spend more, invest more and add jobs thus creating a bigger wealth and tax pool.

Click here to read the story.

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Just Say “No” the Raising the Debt Ceiling

…. we should not raise the debt limit, which was “modest” compared to the current national debt of $14.5 trillion ($ 46,450 per citizen), because there was a limit or ceiling for a good reason. We should instead, utilize fiscal restraint.

Click here to read the story.

Legislative Budget – HVCA May 26, 2011

Senator Slom addresses a luncheon at the Hawaii Venture Capitol Association – May 26, 2011 at the Plaza Club, Honolulu Hawaii. The subject: State budget, deficit, spending, taxation, economy, more. Video courtesy of Jay Fidell at Think Tech Hawaii.

State Revenue Projection Remains the Same

No special session is scheduled to be held after the Hawaii State Council on Revenues chose not to revise their most recent economic forecast for 1.6% growth this year. Had the council downgraded their forecast it was highly possible that the State Legislature would have had to meet in special session to address the revenue shortfall by increasing taxes.

Senator Slom stated in a HawaiiReporter.com article: “I continue to believe our budget is not balanced and we have not emerged from the recession. There may be recovery for selected industries such as the visitor industry, but for the majority of businesses and families, it is still a difficult time. And the key indicator, private jobs, does not show up in the data. As the council itself said, the models are based on mathematics and subject to interpretation. My interpretation is that as long as the state continues its tax and spending policies, it will have a continuing adverse impact on recovery and any meaningful expansion. It also is interesting to note that the chairman even hinted that Hawaii may go into another recession in 2014.”

Senator Slom addressed the state budget shortfall earlier this year with a “No Alternative” budget that featured several deep cuts and no tax increases.

For Additional Reading:

Council on Revenues Won’t Change Economic Forecast, HawaiiReporter.com 5-27-11
Cash Outlook Standing Pat, Honolulu Star-Advertiser, 5-27-11
Senate Minority No Alternative Budget

State Senate Proposes GE Tax Increase

The Senate Ways & Means Committee will hear a bill that will increase the State’s General Excise Tax (GET) by at least 25% (1% as they say). HB 793 will be heard this coming Wednesday, April 6 in the State Capitol Auditorium starting at 9:30 a.m. Senator Slom will be voting against this (and every) tax increase bill.

Taxpayers are encouraged to send in testimony or more importantly call members of the Ways & Means committee and let them know that you are against the increase of the GET. All legislators should be contacted on this most important pocketbook issue.

Information and contact links are listed below:

HB 793 SD1(Proposed Senate Draft)
http://www.capitol.hawaii.gov/session2011/Bills/HB793_SD1_PROPOSED_.pdf

WAM Hearing Notice for HB 793 SD1 – Wed. April 6, 2011 9300 am State Capitol Auditorium

Bill Status HB 793

Senate Ways & Means Committee Members / Contact List 

Contact for All State Legislators (House & Senate Phone Directory)

Email Testimony Form

Star Advertiser Article 4-4-2011

Senator Slom 40 Day Report

5 minute video clip of Senator Slom’s 40 day legislative wrap-up.