Anna, Oklahoma, Tax Revenue discussed on No Agenda

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Anna or deduction in oklahoma means less tax revenue coming in states just figure it's worth it if it gets more people to college but all of this is why congress's sudden expansion of the program indicate twelve schools has some experts worried this change allows private school families to put their money through five twenty nine accounts and avoid state income taxes net malkhas studies ed policy at the american enterprise institute it's a conservative leaning think tank it's a change from the federal level that puts a number of states in a pretty tough position moving forward malka says if lots of new families sign up and current families contribute more within states could end up losing a lot more money in tax breaks i think he would immediately create a on intended budgetary hit the state budget greg burke of the new york state council of school superintendents says this expansion and surprised states after all it came top down from washington and states have unbudgetedfor it new york offer savers a ten thousand dollar deduction on their state taxes in illinois where michael fredericks is treasurer it's even more generous twenty thousand dollars he says five twenty nine were meant to save longterm for college and that letting families use them for kindergarten changes things if they're putting money in one month in taking out the deck they don't really have that advance of longterm investing and it's really good using them to get around state seems like a pretty big deal to the states.

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