Bob Schaffer: “Here is the proposal right here, the draft resolution. We expect to introduce this in the first, maybe the second week…”

“Here is the proposal right here, the draft resolution. We expect to introduce this in the first, maybe the second week of June when we return from our Memorial Day district work period. There is quite a lot of interest in this legislation already. Again, the way it works is every American who pays taxes will be able to get a tax credit up to $250, a 50 percent credit for every dollar they contribute to a public or private school, a public school directly under the way we have designed it or a scholarship fund that would be used by children to apply for a scholarship so they can attend private schools if they would want. There is also a corporate component that is really very essential in this legislation and that allows corporations to invest in America's education system as well, again with the incentive of a 50 percent tax credit. The beauty of this from the government's perspective is how we stretch the dollars. When we spend a dollar through the bureaucratic model of education funding, again this is a $40-billion-a-year exercise in Washington. When we spend those $40 billion, only about two-thirds of those dollars ever make it to a child. The rest are lost in here somewhere. So we lose money investing through this system. The children are important, so we invest a lot because we know we are going to lose money, we want to make sure that of the $40 billion that we invest, that some fraction of that makes it down to the child.”