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ESAs are Taxable Income … Death Knell for S 556?

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We have been preaching this for years now … ever since the “paid” special interest advocates pushed for a direct refundable parental tax credit … these payments are likely TAXABLE INCOME!!!

This week the Republican Attorney General & Republican Commissioner of Education found that the newly passed Education Savings Account (ESA) program in Tennessee would be TAXABLE INCOME to the parent recipients. (NOTE: Although the Tennessee ESA is currently the law, it was a major debacle getting it passed. It won by one vote, a Republican that only voted yes if they promised to keep ESAs OUT of his district … so the program is only in 2 out of 95 counties in TN and the school districts get reimbursed 100% for each kid that leaves … so the state is paying DOUBLE for those kids in the program … so it wasn’t “really” passed and like Nevada, our bet is it will be killed before it is ever implemented – costing taxpayers millions in the process.)

But you don’t have to take our word for it … watch and read the articles yourself.

Reporter Richard Ransom asks …. “Were lawmakers mislead? Were they lied to?” Our experience … YES!!!

https://newschannel9.com/news/nation-world/official-tennessee-school-vouchers-are-federally-taxable-income

The IRS rules are pretty simple … if you get a check from state government … you must provide that person with an IRS Form 1099-G … period!!!

What does this have to do with South Carolina? Well, do you get a refundable parental tax credit? Well, is that taxable income? We think it is … and that is why we opposed it. SC legislators can make the payment free from SC state income tax … but they have NO influence on making it FEDERALLY tax free. That is the reason NO OTHER STATE IN THE NATION has such a large refundable parental tax credit. Others states are not stupid … they know (like Tennessee has figured out) that these direct payments from state government is a tax problem. There are a few states with small $100 or $200 refundable education tax credits … and yes they are taxable too … but that is nothing like an $11,000 refundable parental tax credit. That is a HUGE tax bill.

And as other articles point out … this impacts the poor the most. Yes wealthy parents may get a $37% federal income tax bill … yes, keep hoping you don’t get audited by the IRS … but for low income families that might be subject to income limitations on their benefits, food stamps, ACA healthcare … this extra “income” may cost you more than you actually receive.

SC Legislators are aware of this problem … we have told them … but the “paid” special interest sing a different story. Well, what do they have to say now? Guess who has been WRONG almost every time … the “paid” special interest advocates. #FollowTheMoney!!!

Remember Palmetto Promise Institutes “Bigger. Better. Faster.” proclamation … read it HERE. These guys have no idea what they are talking about.

https://www.commercialappeal.com/story/news/2019/11/19/memphis-senator-opposes-school-voucher-program-update/4239159002/

“This is a worst-case scenario for students, their families, the school districts and the state.” – TN STATE SENATOR RAUMESH AKBARI

For Parents

“A QUALITY EDUCATION IS THE CLOSEST THING TO MAGIC IN AMERICA” – Sen. Tim Scott

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Although the “paid” advocates government run school choice solutions here in South Carolina have been dealt a DEATH BLOW … the topic of “school choice” is alive and well … and we think 2021 will be the YEAR OF SCHOOL CHOICE!!!

IT IS ABOUT TIME …

Our very own Senator Tim Scott on August 25th, 2020 stated as part of his school choice fight that “a quality education is the closest thing to magic in America.” 

He is right …. and we love it!!!

👉 https://www.facebook.com/palmettokidsFIRST/posts/1493456947529902

The hot topic even came up this week in the Amy Coney Barrett U.S. Supreme Court confirmation hearings. 

Senator Ted Cruz (R – Texas) on October 14, 2020 stated as part of his school choice fight that he believes “School Choice is the CIVIL RIGHTS issue of the next century.”

That is pretty powerful!!!

https://www.facebook.com/palmettokidsFIRST/posts/1493465700862360

And in really big news … love him or hate him … President Trump promised SCHOOL CHOICE for EVERY child in America on October 13th!!!

That is huge … and huge for kids!!!


 

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For Parents

SAFE Grants Ruled UNCONSTITUTIONAL – 5 to 0!!!

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We know some parents have been holding out hope that the “paid” advocates SAFE Grants (or better said #SafeGrantsNotSafe) might pull through with some aid … but in a UNANIMOUS 5 to 0 ruling …the SC Supreme Court found them UNCONSTITUTIONAL … It was BRUTAL!!! 

Both the liberal left and conservative right members of the Court ALL AGREED that the SAFE Grant / ESA model was UNCONSTITUTIONAL.

15,000 parents … the Governor … and a host of legislators were DUPED again by JIM DEMINT, ELLEN WEAVER, “DR.” ORAN SMITH … all with the failing PALMETTO PROMISE INSTITUTE.  Will legislators learn?

(For article click image above or HERE.)

And what did we hear from school leaders about SCISA / Dr. Spencer Jordan “push” Safe Grants?.  He almost GAURANTEED these #SafeGrantsNotSafe would be coming through.

Will Dr. Spencer Jordan apologize to all the families and schools suffering because of yet AGAIN another failure to lead?  Will he / SCISA make up the DIFFERENCE in cash???

#FollowTheMoney!!!

And, don’t forget their “allies” in the Governor’s Office … and how we got here in the first place.  Just over a year in the “job” and what Melanie Barton from the SC Education Oversight Committee could not destroy while she was at EOC … she has done from within the Governor’s Office.

Will anybody PAY THE PRICE???

(For article click image above or HERE.)

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For Parents

DOR Announces September 2020 Fundraising $58,600 raised for September

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The SC Department Of Revenue has responded to our monthly FOIA request with the fundraising update for the month of September.

Chad Connelly and Tom Persons may be gone … but the (not so) Exceptional Board still does nothing. $58,600 raised for September???

The bullies are gone … but only the sheep remain?  Geez, do something people!!!

Y’all know that we are personally on this 24/7.  Several court filings this past week … not to mention TWO new lawsuits this past month we still have not updated you on … but basically another week … same stuff.  Legislators still LYING to us all.  The (not so) Exceptional SC Board still remains silent.  DOR fundraising still sucks!!!  The “paid” advocates are still putting their interest before your kids. No changes.

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