State Sen. David Ige (D, Aiea-Pearl City), the chairman of the Senate Ways and Means Committee, said today that the Senate is still weighing options to raise the revenue needed to combine with spending cuts and balance the budget.
Gov. Neil Abercrombie told senators on Wednesday that he does not support a general excise tax increase. The governor indicated he would consider a House proposal to temporarily suspend GET exemptions on certain business activities, which is unpopular among some in the Senate.
“We’re looking at all the different options at this point,” Ige said.
One approach, Senate sources say, is to consider both a GET increase and lifting the GET exemptions at a hearing so there is a full public debate.
The Senate Ways and Means Committee plans to move out the Senate’s budget draft, and the revenue-generating bills to make it balance, next week.