Legislative Democrats
announce education funding plan
Puts money
into classrooms now without raising taxes, protects future funding
STATE CAPITOL, PHOENIX – Today Arizona Legislative Democrats released an education funding plan that will
give public schools nearly $4 billion, without raiding funding from future generations
and without increasing taxes.
“Our plan will put nearly $4 billion into public schools over the next 10 years, protects the long-term health of the state land trust fund, and puts dollars in the classroom now,” House Democratic Leader Eric Meyer, D-Paradise Valley (District 28), said.
The Democratic plan provides sustainable funding, unlike other
proposals that would create a shortfall in funding for future generations.
This
plan:
- Supports the belief that education is a long-term investment and the foundation for Arizona’s future economic success
- Provides nearly $4 billion for public education during the first 10 years and protects funding levels after that
- Does not rob future generations by harming the principal of the state land trust fund
- Does not raise taxes and can be implemented immediately
Meyer added that concerns are mounting about the governor’s idea
to cut into the principal of the state land trust’s permanent fund. Arizona
State Treasurer Jeff DeWit recently criticized that proposal, in part because it
creates a fiscal cliff in five years and hurts the principal of the
fund. The
Joint Legislative Budget Committee estimates a loss of $3.2 billion in value
under Ducey’s proposal.
“The
plans put forth by Arizona's Republican leaders are not much more than smoke
and mirrors,” said Senate Democratic Leader Katie Hobbs, D-Phoenix (District
24). “Our responsible plan puts desperately needed dollars immediately into
classrooms without stealing from the state land trust or First Things First,
without requiring uncertain voter approval, and without setting up our state to
fall off another fiscal cliff. Our kids deserve a sound, sustainable plan to
fund our schools.”
The Legislative Democratic proposal maintains the existing
distribution of funding from the state land trust proceeds, which is currently
2.5 percent, and the $74 million inflation increase approved in the 2015-2016
fiscal year budget. It will allocate new revenue from the $278 million in projected 2015-2016 fiscal year surplus to
K-12 funding in the current fiscal year and $250 million in ongoing revenue to
school funding in future years.
Additionally, the plan would freeze the expansion of the corporate
school tuition organization tax credit program beginning the 2016-2017 fiscal
year to produce an additional $10 million in revenue dedicated to the K-12
budget. This will ensure that funding levels can be maintained. Existing tax
credit funds for STO scholarships would not be reduced under the plan.
“Under
our plan, Arizona schools will immediately receive desperately needed money without
having to wait for an unguaranteed approval by voters,” said Hobbs. “And our
plan leaves resources in the general fund to address the critical needs of
child safety and higher education. It's a plan that protects our children and
honors the state's commitment to their future.”
Meyer agreed.
“Arizona has the resources to fund public education. Our plan
shows that. It has always been a matter of making it a priority,” Meyer said.
“The Republican leaders in the state so far have offered ideas that jeopardize
the future of education funding. We can’t afford to waste time on gimmicks,
Arizona needs a sustainable education funding plan now.”
Below is a full 10-year analysis of the Democratic education funding
plan.
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The devil is in the details but this on first read sure is a better deal than that the governor has proposed to date.
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