* January 8, 2018 News-Gazette editorial…
Illinois’ new “Invest in Kids” scholarship program got off to a fast start last week, attracting more than $36 million of the $100 million limit on its first day.
The governor’s pet project did, indeed, get off to a fast start, but it has stalled out since then. The total contributed as of today is $41 million - just $5 million more than three months ago and $59 million short of the $100 million goal. Also, just $36 million has been received so far.
* Anyway, on to the Rauner campaign…
It’s already clear that JB Pritzker is a tax cheat pushing tax hikes. He hides his money in the Bahamas to avoid paying his fair share of taxes while at the same time proposing a massive income tax hike on hardworking Illinois families.
Now this week, his hypocricsy hit a new level. JB Pritzker wants to immediately end the “Invest in Kids” tax credit scholarship program that provides low-income students an opportunity to finally have a better education. Yet at the same time, he’s benefitted from other tax credits to enhance his personal wealth.
JB Pritzker is completely fine with tax credits when they benefit him…just not when they provide opportunity for Illinois’ least fortunate students.
Check out the coverage from WCIA:
While Pritzker opposes the use of tax credits for private school scholarships, he supports them when it helps him pursue profit. According to state records, Pritzker claimed a total of $1.9 million in tax credits for companies he owns under the Angel Investment Credit Program, an initiative proposed under Governor Pat Quinn to entice wealthy investors to provide working capital to upstart companies in the state. Governor Bruce Rauner revived the program after it stalled in 2017.
…Former Florida Governor and 2016 presidential hopeful Jeb Bush highlighted Pritzker’s personal wealth and his willingness to reject the bipartisan deal in a tweet he posted Thursday afternoon, which declared Rauner a “champion.”
The Rauner campaign, which is supremely confident public opinion polls support their side in this debate, also highlighted the economic aspect of Pritzker’s stance.
“It’s shameful for Pritzker to say he would immediately end the scholarship program when so many low-income students will soon be benefiting from a better education,” campaign spokesman Will Allison wrote. “It’s clear Pritzker is out-of-touch with struggling families who can finally choose a brighter future for their children.”
Kinda apples to oranges, but it’s politics, so whatevs. And it’s baffling to me that the Rauner campaign didn’t mention the fact that Pritzker used the state high tech investment tax credit program to avoid paying any state income taxes in 2014.
* The article does effectively rebut one of Pritzker’s claims…
“It’s appalling that the state loses out on precious education funds in order to give to wealthy donors a tax break. J.B. believes in investing in our public schools so that every child, no matter their zip code, has a quality education in their own neighborhood.”
Except that’s not occurring under this new law. A critical linchpin of the new funding formula was a hold harmless provision that insured no school district would lose funding on a per-pupil basis, which protected against any loss of funding in the event of public school students leaving for private school.
* But it includes this doozy from Rabbi Shloma Soroka…
“This is private citizens giving private donations to a private 501(c)(3) that funds private students to go to a private schools. Never does the money pass through a state treasury or agency. It’s not funded by the government. It’s not funded by taxpayers.”
Um, it’s a potentially $75 million net reduction in taxes paid.
…Adding… From Rabbi Soroka…
What I said about private donations to private nonprofits was regarding the misconception that there’s a constitutional issue with this program. It had nothing to do with whether or not it results in a loss of revenue to the state. In fact, I’m quoted again later in the article as saying, “A voucher system takes money directly out of the state’s education spending budget. This (tax credit) is from general revenue.” That’s where I was making the point that even the maximum loss of revenue would not significantly impact the state’s ability to fund public education.
We need a robust public educational system that has the financial resources necessary to provide quality education for all the children it serves.
* Related…
* AUDIO: Lt. Gov. Sanguinetti criticizes Pritzker’s call to eliminate scholarships
