Hawaii General Fund Tax Revenue Forecast

• . How the Council produces its forecasts (Cont.) When the Council meets, it evaluates the results of the econometric models and examines recent trends in collections. The Council also considers other economic or political changes that might materially affect tax collections. The members then agree on their official forecasts for growth rates of overall General Fund tax revenues. The Tax Department takes the official growth forecasts and adjusts the variables in one of its econometric models to produce forecasts for the individual tax types that are consistent with the Council's overall forecasts.

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