First, as they say on public radio’s Marketplace, we do the numbers on the unprecedented tax bill passed last night:

The highlights here.

*Total new revenues: $1.6 billion over two years.
*State directly collects $979 million.
*Sends an additional $377 million to localities for schools but not mandated
*Pack-a-day smoker pays $63.88 more this year and $100.38 next.
*10 percent excise tax on other tobacco products– money to Virginia Health Care Fund.
*Saves $277 million by capping car-tax.
*Car tax reimbursement to localities frozen at next year’s level.

Norfolk, for example, received 1.8 percent of the state’s car tax payments last year, totaling $15.4 million. That figure would be frozen at about $17 million.

* Seniors earning over $99,000 ineligible for tax deduction, though those already 65 held harmless; deduction remains for those with incomes or $50,000 or less.