Report: Private School Voucher Proposal Creates Tax Shelter For Wealthy; Would ‘Starve’ Public Schools Of Critical Funds

FOR IMMEDIATE RELEASE

Contact: 
James Minichello 
703-875-0723 
703-774-6953 (cell) 
jminichello@aasa.org

Alexandria, Va. – May 17, 2017 – Legislation pending in Congress would create new opportunities for corporations and successful investors to earn huge profits by transferring public funding to private schools, according to a report released today by AASA, The School Superintendents Association, and the Institute on Taxation and Economic Policy.

The legislation—the Educational Opportunities Act—would put two new federal voucher tax shelters within reach for many more Americans and lead to an explosion in funding for private schools. It would also keep in place an existing federal loophole that permits savvy taxpayers to benefit from ‘double dipping’ practices, where they receive a federal deduction and state tax credit on the same donation to a private school entity. At present, high-income taxpayers in nine of the 17 states offering voucher tax credits can turn a profit using this technique.

The report, Public Loss, Private Gain: How School Voucher Tax Shelters Undermine Public Education, describes how boosting resources for private schools while simultaneously providing tax breaks for wealthy taxpayers and corporations will greatly undermine public education. 

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