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Governor wants at least $218M for 2005
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Posted on Oct 09 2004
The Babauta administration wants no less than $218 million for fiscal year 2005—a budget level that is over $5 million more than the House of Representatives’ approved spending limit.
Gov. Juan N. Babauta said in an interview that the additional revenues would come from the tax amnesty law that is projected to generate at least $2.1 million and the revenue enhancement bill that is estimated to provide additional $3 million to $6 million. The bill, which has already been passed by the Legislature, has yet to be signed by the governor, though.
“I haven’t signed it [revenue enhancement bill]. I may sign or I may veto it. It has very strong revenue enhancement measures, though. I’m still studying the bill,” Babauta said.
He said he would submit a revised revenue projection to the Legislature by Tuesday.
The two tax measures are on top of the original $226 million budget proposal that Babauta submitted to the Legislature last April.
Of the $226 million proposed expenditure, the House only approved $212.651 million.
The House rejected the administration’s Integrated Fiscal Plan, which contains provisions that would raise certain taxes and fees.
The Senate rejected Wednesday House Concurrent Resolution 14-1 that identifies the resources for the $212.651 million budget. The Senate is believed to favor an increase of the budget to $215 million or more.
The governor expressed confidence that the Senate would raise the budget to the level amenable to the administration.
