Spare Change

Senate Finance Chair Bo Watson wants you to spend your spare change on Tennessee’s public schools. Watson touts the Volunteer Public Education Trust Fund in a recent piece distributed around the state. Here’s more:

For all those who clamor for more financial investment in K-12 public education, there is a perfect investment opportunity for you – the Volunteer Public Education Trust.

Watson then goes on to highlight the many potential benefits of investment in this fund.

Let’s be clear: A state that is 45th in the nation in school funding is now asking people to just donate their extra cash to a fund to help boost schools.

Watson sounds like he’s not among “all those who clamor” for more investment in our schools. But, hey, if YOU are, go for it.

Watson fails to mention that Tennessee has banked over $3 billion in surpluses over the past five years. Was that money invested in public schools? No! Instead, the inheritance tax and Hall investment tax were phased out.

In fact, a recent analysis indicates that while state revenue is up by an 7% over the past 10 years when adjusted for inflation, teacher salaries are down by 2.6% over the same time period.

This lack of commitment to directing available dollars to public schools is why Tennessee earned an “F” for effort in a recent comparison of state spending on education.

Now, instead of committing to use state funds to fill a $500 million hole in school funding, Watson is suggesting collecting spare change from donors in order to meet the needs of our state’s schoolchildren.

The Volunteer Public Education Trust is now ready for contributions from individuals, businesses and corporations that will transform the way we fund public education in Tennessee.

Here’s another way to transform the way we fund public education in Tennessee: Start funding education in Tennessee.

For more on education politics and policy in Tennessee, follow @TNEdReport

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