Pritzker could unlock $1 billion for Illinois students

The governor should say yes to a program that would provide donated education money for Illinois families.

A billion dollars for Illinois students is on the line.

Gov. J.B. Pritzker can opt into a new program and allow Illinois families and students access to almost that much in donated education money.

Or he can watch the money flow to other states.

A new program allows donors to take a tax credit of up to $1,700 for qualified donations. If just 30% of filers in Illinois took the full credit, the state could gain nearly $1 billion a year in new education resources to be used for millions of students.

The money would help students afford a tutor, attend ACT or SAT prep sessions, pay tuition or fees, get special education services or assist with other academic needs.

Starting next year, any taxpayer can get the credit for a qualified contribution up to $1,700 to a scholarship-granting organization.

The only cost of the program is minimal foregone income tax revenue to the federal government. There is no cost to participating states, only the benefit of more help flowing directly to students.

A number of taxpayer-participation scenarios show that “even modest taxpayer engagement could translate into significant resources,” according to an analysis from Education Reform Now. Based on an estimated participation rate of taxpayers eligible to receive the full $1,700 tax credit in Illinois, students in the state could see as much as $1 billion.

The program has bipartisan support, with most states indicating they will opt in.

That includes Colorado, where Democratic Gov. Jared Polis has said, “The more Democratic governors learn about it, I fully expect that most will come around and participate….Because from our perspective, it’s free money.”

The win-win program for students and donating taxpayers takes no money away from public schools. Yet opponents in Illinois aim to prohibit the state from participating while simultaneously demanding more state funding for education from taxpayers who face the highest combined state and local tax burden in the nation.

By placing politics above student need, opponents leave kids and families suffering the effects of their partisanship.

Pritzker should show that he prioritizes students and join the majority of states that are opting into a federal program, unlocking as much as $1 billion of donor money for Illinois students’ targeted needs.