The budget includes proposals to hike taxes on liquor and wine but not beer, increase the tax on cigarettes to $2.70 per pack and raise the personal income tax rate for one year on those making more than $400,000. The proposal suspends the property tax deduction for those earning more than $150,000 and raises taxes on lottery prizes exceeding $10,000.
The budget was slashed by $4 billion from last year's because of a continuing decline in corporate, sales and income tax collections.
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