Officials: Tax extension may not be enough to pay for Honolulu rail project

HONOLULU — Three months after the Honolulu City Council approved a five-year extension of a general excise tax, Honolulu Authority for Rapid Transportation (HART) officials acknowledged that extra money may not be enough to pay for Honolulu's rail project, Hawaii News Now reports.

As the city is heading into the most difficult and complicated 10 miles of the rail line in urban Honolulu, HART officials said the extra $1.5 billion expected to be generated by extending the half-percent excise tax hike by five more years might not be enough to cover the rising costs of building the 20-mile project.

Completion of Oahu's rail project is already two years behind schedule and the cost has risen to roughly $6.5 billion — an increase of more than a billion dollars. For the full story, click here.