The only way to rein-in out-of-control public school spending is thus to give both families and taxpayers an alternative to the government monopoly status quo. Cut taxes on folks who pay for their own children’s education, or who donate to non-profit scholarship organizations that subsidize private school tuition for the poor. Many states are doing this already on a small scale. By so doing so on a larger scale, families will have much greater choices and taxpayers will reap enormous savings.
Coulson’s article is referring to a report by the Florida Legislature Office of Program Policy Analysis and Government Accountability which states:
This report was prepared by the Florida Legislature Office of Program Policy Analysis and Government Accountability. The corporate income tax credit scholarship program produces a net savings to the state. They estimate that in Fiscal Year 2007-08, taxpayers saved $1.49 in state education funding for every dollar loss in corporate income tax revenue due to credits for scholarship contributions. This report evaluates the fiscal impact of increasing the cap for the Corporate Income Tax Credit Scholarship Program and states expanding the cap on tax credits would produce additional savings if there is sufficient demand for the scholarships. The report is available to read in full Here and we will post a permanent link to it in our Fact-finding section.