The state Senate’s draft budget would also lower property taxes by increasing the homestead exemption for most homeowners.

Both chambers set aside $1 billion for a voucher-like education savings account program — double what was on the table two years ago — in a sign that supporters are emboldened after recent electoral gains.

Both chambers are off to a fast start, with each unveiling its plan to guide state spending for the two-year budget cycle that starts Sept. 1.