Massachusetts lawmakers Friday approved a $27.41 billion fiscal 2010 budget that includes new sales-tax revenue to help bailout two state transportation authorities and capital gains tax reform that would reserve excess revenue for future economic downturns.

The spending plan is slightly less than the $27.97 billion fiscal 2010 budget proposal that Gov. Deval Patrick released in late January and about $760 million smaller than the fiscal 2009 budget. Fiscal 2010 begins July 1.

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.