Education Freedom Tax Credit Could Raise More Than Initially Projected
Education Freedom Tax Credit Could Raise More Than Initially Projected
Good morning from The Beam.
This week, supporters of the new Education Freedom Tax Credit released research that found its financial impact could be even greater than initially projected.
The American Federation for Children says the program will be helpful for both public school students and families of private schoolers who need assistance paying tuition costs not covered by programs like the Education Freedom Scholarship.
New research by the American Federation for Children found the program could provide Tennessee students with $377 million if just ten percent of taxpayers participate.
I think the Education Freedom Tax Credit is really going to kind of supercharge some of the existing choice programs. And that's not just private choice. This can be used by students who attend a charter school or attend a magnet school or whatever their own public school or homeschool, who have needs, who have real needs.
Shaka Mitchell, AFC Senior Fellow
By the numbers
2.4MTennessee tax filers eligible to redirect up to $1,700 in federal taxes to student scholarships.
$377MProjected scholarship funding in Tennessee if 10 percent of eligible taxpayers participate.
1.1MTennessee K-12 students who could qualify for scholarship funding, roughly 94 percent of the state's student population.
Voices
CEO, American Federation for Children
The Education Freedom Tax Credit has created an unprecedented opportunity to open the doors of education freedom for families nationwide. Dr. Graff's research demonstrates the life-changing difference taxpayers can make for American students by donating to a scholarship granting organization while reducing their own federal tax liability.
Tommy Schultz
That's a wrap on this week's Beam. Look for our Friday Flicker podcast tomorrow.
