Good Jobs First entered the national scene when it produced documentation that the CARES Act was being used to funnel billions of dollars to private schools and charter schools. The charter schools were double-dipping, first taking money allotted to public schools, then getting millions more from the Paycheck Protection Program, which excluded public schools.
Now, Good Jobs First has released a new report, showing that students are paying for corporate tax breaks.
Abating Our Future:
How Students Pay for Corporate Tax Breaks
Executive Summary
Public school students in the U.S. suffered poorer schools—and local and state taxpayers paid higher taxes—in 2019 due to corporate tax breaks. Thanks to a new government accounting rule, we are able to prove that economic development tax abatements given to corporations cost public school districts at least $2.37 billion in forgone revenue in 2019. That is $273 million — or 13 percent— higher than two years before.
Across the country, 97 school districts lost more than $5 million each; 149 districts lost more than $1,000 per CONTINUE READING: How Students Pay for Corporate Tax Abatements | Diane Ravitch's blog