State Budgets: Hawaii Reduces Spending and Considers Curtailing Credits January 1, 2009 Joseph Bishop-Henchman Joseph Bishop-Henchman Hawaii Gov. Linda Lingle (R) recently unveiled a $22.4 billion 2010-11 biennial budget that reduces discretionary funding by 14%, draw down $75 million from the state’s rainy day fund (leaving it at $15 million in 2011), and borrow from bottle/can deposits and 911 fees. She had previously called for a two-year salary freeze for top state employees and a reduction in the state’s ethanol tax credit. More on Hawaii here. Stay informed on the tax policies impacting you. Subscribe to get insights from our trusted experts delivered straight to your inbox. Subscribe Share Tweet Share Email Topics Hawaii Tags State Tax and Spending Policy