A Teachable Moment

Former local teacher union pesident Morty Rosenfeld periodically attempts to make sense of the increasingly senseless world of public education.

Tax Bill a Shot at Public Education

I’ve seen little in the criticism of the Republican’s legislation to redistribute income to the wealthiest Americans about the threat it poses to the financing of public education. Limiting the deductibility of state and local taxes and mortgage interest payments will have a profoundly negative effect on the ability of school districts to raise the revenue necessary to maintain quality. Under the current federal tax law, there has been a growing reluctance of people to shoulder an ever growing property tax burden leading to support for property tax caps in states like New York and California.

The deductibility of state and local taxes and mortgage interest has been part of a conscious federal effort to encourage home ownership. Had these policies not been put in place, our suburbs would undoubtedly look very different than they do today. Removing these inducement to home ownership will not only make the already difficult job of financing public education in our suburbs more difficult, it will probably also slow or end the appreciation of real estate in suburban communities, further enraging homeowners as the equity in their houses fails to meet their expectations.

There is no doubt about it. This so-called tax reform redistributes income upwards while it takes a retributive shot at blue states that support public education and quality government services.

I’m off to California for a few says. I’ll be back here on the 27th.

posted by Morty in Uncategorized and have No Comments

No comments

You must be logged in to post a comment.