MBPC review of the Senate Budget

The Massachusetts Budget and Policy Center (must reading for any serious budget wonks) has done a preliminary analysis of the Senate Engrossed budget.  Their report notes that:

• the increase in sales tax from 5% to 6.25% (and elimination of the sales tax exemption for alcohol) should generate approximately $730 million in FY2010;
  
• the Senate used this revenue to restore about $550 million of the $3 billion that the Ways and Means Committee had recommended in budget cuts;
  
• the Senate allocated $275 million to avert a toll increase on the Massachusetts Turnpike, to address the budget crisis at the MBTA and to support other transportation programs.