News Alert: $800M Oklahoma Bill Sparks Debate as Tax Credits for Private School and Homeschooling are Proposed

Oklahoma’s House speaker, Charles McCall, has proposed a bill that provides refundable tax credits to families who do not enroll their children in public schools. Based on a report by the Oklahoma Policy Institute on February 21, 2023, the bill includes a suggested $2,500 teacher pay raise and a $300 million increase in per-pupil funding for public schools.

Additionally, the Redbud grant program would receive an additional $50 million in funding. The bill, House Bill 2775, could cost up to $800 million. McCall aims to recognize and respect all forms of education in the state. Families would receive up to $5,000 in refundable tax credits for each student who attends a private school, and the tax credit would also apply to alternative schooling, such as homeschooling, according to a report by The Oklahoman on February 16, 2023.

The tax credit would cover eligible expenses. Oklahoma is considering a tax credit that would cover private school expenses, tutoring, textbooks, and extracurricular activities. Higher-earning individuals can use the credit to reduce their adjusted income, while low-income households could receive checks for most or all of the credit amount. The program could cost up to $300 million if all eligible students apply.

Governor Kevin Stitt supports the tax credit plan, and House leadership prefers McCall’s plan over past voucher propositions because it better serves students in all parts of the state, based on a previous report by Yahoo on February 17, 2023. The bill aims to ensure that every child in the state receives a fair education, and it makes sure that everyone has the potential for success. The House Appropriations and Budget Committee has already advanced the bill by a 27-8 vote. Senate Republicans are still analyzing the details of the plan