Teacher Support: Tax Credits and School Funding Boost
This act introduces new refundable tax credits for elementary, secondary, and early childhood educators, aiming to supplement their income. It also mandates increased funding for schools that maintain or raise teacher salaries, potentially leading to better working conditions and higher pay for educators. The changes are designed to improve teachers' financial well-being and support the education system.
Key points
Eligible educators can receive a refundable tax credit of at least $1,000, with an additional amount up to $14,000 (or $9,000 for some early childhood educators without a bachelor's degree) for those in high-poverty schools.
The deduction for unreimbursed educator expenses is increased from $250 to $500 annually and expanded to include early childhood educators.
Mandatory funding is provided to local educational agencies that maintain or increase teacher salaries, ensuring that the tax credit does not lead to a reduction in state or local teacher pay.
Employers are prohibited from using the teacher tax credit to reduce salaries in collective bargaining agreements or as a reason to change an educator's work assignment or location.
Expired
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