White House Reveals More on Hawaii Stimulus
By: Bryna Stankiewicz
2/6/2009
KGMB 9
In a multiple page press release, the White House has posted the most detail to date on its stimulus package in a state by state breakdown, Hawaii included.
"We need help today," said Jim Tollefson. CEO of the Chamber of Commerce of Hawaii.
At the top of the list, a bullet-point plan for employment.
The plan would create or save 16,700 jobs over two years, nine out of ten of them in the private sector.
And it would kick in $100 a month in benefits to 55,000 laid off workers.
"I think for some people it will stay in their pockets or they may use it to pay off debt," Tollefson said. "But I think there are others out there who can take a hundred dollars and put it to use."
Tax expert Lowell Kalapa believes the key question is how fast will the money move?
"Can they flush that money through the system fast enough. We're talking about less than six months. We're already sinking so far and so deep that it really needs to be now," he said.
Tax cuts are also on the list, up to $1,000 each for 490,000 workers. The money would pay out immediately in paychecks.
Tollefson said that's a short term plus.
"Anything that we can get from the stimulus package to alleviate these problems is good," he said.
Kalapa thinks it will take more than money to stimulate Hawaii's economy.
"Putting a thousand dollars in my hand doesn't restore my confidence that I'm going have a job next week if hotels are laying off because occupancies are dropping below sixty percent," he said.
The stimulus plan also calls for tax credits for college tuition and and funding for "modernizing" at 33 public schools.
It's still unclear how much money Hawaii will get from the stimulus package but we know a little bit more about how it might be spent.
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