According to new economic analysis from the Cato Institute, the state of South Carolina could save $1.1 billion in tax revenue over 10 years if it were to adopt a “public education tax credit” whereby parents could choose which school their child would attend.
That means that while parents and children would get increased choices and better schools, taxpayers would save over $1,513 per SC student.
On top of expanding freedom and opportunity, this new study further refutes the idea that public schools would suffer (after all, we could always spend the extra money to the public schools) or that the state somehow “”wouldn’t be able to afford” school choice. Although it’s not an enormous amount, these are pure savings for the public coffers that could either go to cutting taxes or increasing government spending.
What do YOU think South Carolina should do with the extra money it will save by implementing school choice?