Governor Bob Taft will propose increased taxes on cigarettes and alcohol in today’s state of the state address to help fix a 720 million dollar deficit. Taft will also propose speeding up the collection of sales taxes and a new round of cuts to state agencies. The constitution requires a balanced budget by the end of the fiscal year on June 30th. This is the third major budget deficit Taft has had to close during the current two budget cycle. Taft’s proposal would raise 160 million dollars by increasing taxes on cigarettes and alcohol and cut 151 million dollars in state spending. Taft is also expected to announce the closing of one or more adult prisons and the closing of a youth detention facility.