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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