TEF: This is a balanced approach to Tax, Economic development, and education Funding policies to create a bright economic future for ourselves and our children.
Most voters believe that states should close tax loopholes first before considering any cuts in public education. Here is a step-by-step guide to show you how.
Oregon recently passed ballot measures protecting critical funding for schools, healthcare, and public safety. Learn more about their efforts and see what other states are doing.
VIDEO: See for yourself how proposed education budget cuts in Michigan could compromise school bus safety.
How tax deals for business short schools—and what you can do about it.
|Reclaiming the American Dream (8:57)|
TEF is an economic idea
If you think about the future, you should think about TEF — Tax structures, Economic development policies, and Funding for schools.
Empirical evidence using regional economic models demonstrates that dollar for dollar, investing in public education grows the economy — more jobs, higher incomes, and reduced disparities — more than tax cuts and corporate subsidies.
Our system of taxation is not fair. The richest Americans pay about $5 for every $100 of their income in state and local taxes. The poorest pay about $11.
Also, the share of taxes paid by corporations as a percentage of their profits has declined 50% over the last 20 years.
Economic development policies don’t level the playing field for business.
Big business gets tax subsidies — without any accountability or regard for their impact on schools and on school-age children. Small businesses struggle to compete.
Funding for schools is neither adequate nor equitable.
Proper funding is the first step toward building schools’ capacity to do their jobs. It is also necessary to give all students a fair chance to succeed in a 21st Century economy.
- Make taxes fair. Close tax loopholes.
- Level the economic playing field for business.
- Make funding for schools adequate and equitable.
TEF or Tax Structures, Economic development policies, and Funding for schools has the greatest impact on our future. TEF is a bold new idea based on a simple principle: Investing in education pays — always.
It’s grounded in the human capital theory of economics and is based on empirical analysis of 30 years of data in all 50 states.
We’re in a knowledge-based economy and investing in public education (our human capital) provides a greater return to our economic prosperity than investing in tax cuts and subsidies.