Financing Public Education: Tax Increment Financing
Abstract
IntroductionThere can be no question that the single greatest challenge facing Philadelphia—the issue on which our city’s future will turn—is the quality of our publicly supported education.
Unless we provide our most vulnerable citizens with the skills they need to earn a decent wage, unless we provide middle-class families a reason to stay in the city rather than move to the suburbs once their kids are school-aged, no amount of tax reform or business attraction incentives will be enough to keep our daunting demographic trends—Philadelphia’s 35 percent child poverty rate portends an overall poverty rate of close to 50 percent within the next several decades—from overwhelming the city.
Last spring, I released a policy paper with dozens of detailed action items for school reform, many of which relate to issues or ideas touched upon in other articles in this special issue of the Philadelphia Social Innovations Journal. In this piece, I highlight one concrete example of how I think education reform in Philadelphia should proceed.
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