As the “Tax You More” lobbying tour continues its journey Matt Brouillette continues to offer the real facts on state education spending. Today’s education fact focusing on how school choice saves taxpayer money and provides quality education.
The $75 million Educational Improvement Tax Credit (EITC) is currently a 75-90% tax credit for businesses that contribute to a non-profit scholarship or educational improvement organization.
- The EITC provides $44.7 million in K-12 scholarships for low-moderate income families, $8 million in pre-K scholarships, and $22.3 million for aid to â€œinnovativeâ€? educational initiatives.
- In the current school year, 44,000 students are receiving EITC Scholarships.
- Since 2001, 244,038 students benefited from a better or safer school through the EITC.
- The EITC saved taxpayers over $500 million in the 2007-2008 school year alone.
- The average EITC Scholarship is $1,100, compared with average school district spending of $13,300 per-pupil n 2007-08.
- If the EITC were to be cut and scholarship opportunities reduced, many students would be forced backinto high-cost public schools, resulting in higher property taxes.
Taxpayers saved approximately $3.622 billion from other school choice options in the 2007-08 school year.
- Charter schools saved taxpayers $80.03 million in the 2007-08 school year. 45,560 students were served at an average savings of $2,589 per student.
- Cyber charter schools saved taxpayers $94.14 million in the 2007-08 school year. 19,715 students were served at an average savings of $4,775 per student.
- Private and nonpublic schools saved taxpayers $3.15 billion in the 2007-08 school year. 260,000 students were served, with an average savings to taxpayers of over $12,000 per-pupil.
- Home schooling saved taxpayers $297.5 million in the 2007-08 school year. 22,316 students were served at virtually no cost to the taxpayers.