Food For Thought

With so many states facing budget shortfalls this year, one would expect to see states proposing a myriad of novel solutions. We're still waiting to see what kind of solution Vermont's creative class, (i.e., carpetbaggers), comes up with. While we're waiting, here’s what Cato found five states are doing -- they're using Education Tax Credits to save a bundle while simultaneously serving the grander purpose of expanding educational freedom:

Texas saves $15.9 billion in the first 10 years and $5.4 billion every year after the program has been in operation for 15 years.

New York saves $15.1 billion in the first 10 years and $4.8 billion every year after the program has been in operation for 15 years.

Wisconsin saves $9.3 billion in the first 10 years and $3.2 billion every year after the program has been in operation for 15 years.

Illinois saves $5.1 billion in the first 10 years and $1.6 billion every year after the program has been in operation for 15 years.

South Carolina saves $1.1 billion in the first 10 years and $350 million every year after the program has been in operation for 15 years.