AUSTIN, Texas - The Texas House of Representatives has approved a bill that would allocate $7.7 bullion of funding for state public schools.
House Bill 2, the House's landmark school finance bill, adds an additional $7.7 billion of ew funding for state public education providing teachers and staff with higher wages, and schools and districts more resources.
“Texas public schools are the backbone of our communities, and today the House delivered a historic investment to bolster public education for the next generation,” said Speaker Burrows. “House Bill 2 lays the foundation for a modernized, responsive school finance system that will grow with the needs of Texas students while targeting taxpayer dollars where they’ll make the greatest impact for students and teachers."
Over $3 billion of the total increase will raise per-student funding, with over $1 billion going to raise teacher and staff pay.
Nearly $1 billion will go toward funding schools in rural and mid-sized communities, $1.5 billion will go to special education funding, and another $1.5 billion will go toward targeted funding for Pre-K, Bilingual education, reducing achievement gaps, and more.
The funding boost also increases the state's Basic Allotment (BA) of per-student funding to $6,555, which is a $395 increase per student.
The bill also incudes financial safety nets, guaranteeing schools receive 95% of their funding from the prior year if they experience a decline in enrollment.
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This comes just before the Texas Senate is set to vote on the controversial School Voucher Plan, which would send 85% of the public funds currently spent on the average public school student to a state-managed bank account to be used for private school education.