Let me get this straight – Iowa Senate Democrats want to increase the tax credit from $7.5 million to $10 Million in SF 533, their version of the Standings bill. They of course did this with strings attached – they want to increase public school allowable growth to 2%. House Republicans want to zero it out for next year.
In order to resolve this, Raecker through a strikeout amendment, removed the tax credit all together. So the State Representative who wants to reign in spending removed a tax credit that has been proven to save the state money. What the state spends per child who benefits from the tax credit is far, far less than what they would spend on that child if he or she stays in the public schools. so Raecker can’t say the State can’t afford it. We can’t afford not to do it.
Correction: The increase to the tax credit was removed, not the entire tax credit itself. I apologize for my error.