LOS ANGELES – A financial plan Honolulu rail officials sent to the Federal Transit Administration last week suggests that the state's recent tax compromise will save $1 billion on financing costs.

Honolulu Gov. David Ige signed a bill Sept. 5 extending Honolulu’s general excise tax and increasing the state’s hotel room tax to cover cost overruns on the $9 billion Oahu elevated rail transit project.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.