A state budget proposal released Tuesday by a key Senate panel would temporarily freeze tuition at University of Massachusetts campuses and boost state spending on elementary and secondary schools to “unprecedented” levels, Democratic lawmakers said.

The Senate Ways and Means Committee’s $42.7 billion annual budget for the fiscal year that begins July 1 would increase overall state spending by about 3%, mirroring spending levels recommended in a plan that cleared the House last month and an earlier blueprint submitted by Republican Gov. Charlie Baker.

Following the lead of the House, the Democratic-controlled committee called for no major tax hikes in their budget. But they did restore a pair of new, targeted taxes originally proposed by Baker: One,

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