HONOLULU (AP) - Gov. Neil Abercrombie says the state won't need to increase taxes or cut spending any further to balance the budget during the upcoming fiscal year.
The governor said Monday the state will also be able to pay back the rainy day fund the state used to balance the budget this year.
House Speaker Calvin Say says he's elated the governor hasn't proposed any new taxes.
But he says he's concerned possible federal spending cuts may affect Hawaii programs. He says Hawaii lawmakers would have to prepare if they want to restore funds cut by the federal government.
Senate Ways and Means Committee Chairman Sen. David Ige says he's grateful the state's not facing another budget deficit and that it can begin to invest in some programs.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
