ECONOMIC PROGRESS IN HAWAII
UNDER PRESIDENT CLINTON

Improved Economic and Fiscal Conditions in the United States:

• Under Clinton Economic Plan, the deficit will be lowered by more than $600 billion -- the deficit will be cut for three years in a row for the first time since Harry Truman was President.
• Almost 6 million new jobs created -- private sector job growth rate 8 times faster than during previous Administration.
• Federal government workforce will drop by 272,900 -- creating lowest workforce since the Kennedy Administration.

Improved Economic Conditions in Hawaii:

• Per capita personal income growth is 88% higher than average annual growth over the previous 12 years.
• The Help Wanted Index has increased 21%.
• Business failures have dropped 9%.
• Home sales have increased 13%.
• Consumer confidence has increased 54%.

What President Clinton's Accomplishments Have Achieved for the People of Hawaii:

6 TIMES MORE HAWAII FAMILIES RECEIVE A TAX CUT THAN A TAX INCREASE: As a result of the expanded Earned Income Tax Credit, 41,263 working families in Hawaii will receive a tax cut. This compares to an increase in the income tax rate for only the 6,771 wealthiest taxpayers in Hawaii.

TAX CUT FOR 6,515 SMALL BUSINESSES IN HAWAII: The President helped entrepreneurs, proprietors, and other small businessmen and women by expanding the annual expensing allowance from $10,000 to $17,500. About 6,515 small businesses in Hawaii are likely to benefit from the expansion of the expensing allowance this year alone and many more will benefit over the coming years.

198,000 HAWAII WORKERS PROTECTED BY FAMILY AND MEDICAL LEAVE ACT: The Family and Medical Leave Act allows workers to take up to 12 weeks of unpaid leave for the birth of a child, to care for a sick family member, or if they become too sick to work. This law covers about 198,105 workers in Hawaii, and protects the jobs of 11,901 workers in Hawaii who are likely to use unpaid leave this year alone.

47,000 STUDENTS AND FORMER STUDENTS IN HAWAII WILL BE ABLE TO BENEFIT FROM STUDENT LOAN REFORMS: Approximately 47,000 Hawaii borrowers -- 32,900 current borrowers and 14,100 new borrowers in the next few years -- can take advantage of the new direct student loan program by participating directly in the program or by consolidating guaranteed loans into direct loans. Some will benefit from lower interest rates, and all will benefit from more repayment options, including income contingent repayment.