Georgia's New Way to Fund Private Schools: What's the Catch?

Georgia has joined a federal tax credit program that lets people give money to private school scholarships and get it back as a tax credit. This is on top of an existing state program that does the same thing. Governor Brian Kemp signed up for this new program, making Georgia one of the states where you can support private education and get your money back from the government. The federal program gives back up to $1, 700 for every dollar donated to approved private school scholarship groups. Governor Kemp joked that signing the IRS form for this was the happiest he's ever been. Lieutenant Governor Burt Jones, who is running for governor, said this will let people give more money to private education.But not everyone is happy about this. Some people say these programs take money away from public schools. House Speaker Jon Burns, however, sees it as a way to give more resources to students who need them. The federal program is only for families earning less than 300% of the area's median income. In metro Atlanta, that means families earning less than about $246, 000 a year can qualify. The state already has a similar program that gives back up to $2, 500 per dollar donated, with a cap of $100 million per year. Last year, this cost the state $88. 8 million. There's also a new state-funded program called the Georgia Promise Scholarship, which started last fall. But fewer students signed up than expected, so the state is now planning to cut the budget for this program.