Editorial: Education cuts are elementary - WSFA.com: News Weather and Sports for Montgomery, AL.

Editorial: Education cuts are elementary

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By Collin R. Gaston - bio | email

  • Editorials

  • Thursday, May 16 2013 7:20 PM EDT2013-05-16 23:20:04 GMT
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  • Tuesday, May 14 2013 7:20 PM EDT2013-05-14 23:20:07 GMT
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  • Thursday, May 9 2013 7:20 PM EDT2013-05-09 23:20:06 GMT
    What was the old Pan-Am gas station at the corner of Bibb and Coosa is now no longer.  Last weekend that landmark was demolished with nothing remaining where it once stood other than the outline of a foundation. What
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    •   
MONTGOMERY, AL (WSFA) -

There has been a lot talk around the water cooler this week regarding the upcoming $150 million dollar cut to any already cash strapped education trust fund.  Most Alabamians cannot understand why we are cutting education funding when we all know how education is fundamental to a competitive workforce and a thriving society.

I'd love to stand here and get just as mad and call them all out one by one but they don't have a choice.  You heard me correctly – they are mandated by law to reduce the spending by the $150 million dollars based on the Rolling Reserve Act.  By law – the Rolling Reserve Act takes the income and sales tax revenues for the last 15 years and averages these amounts together to come up with a budget for the upcoming year.  Therefore, next year's education budget isn't partisan – it's plain math. 

So instead of focusing on the cut let's focus on the excess revenue above and beyond the 15 year average.  There will be excess – some say as much as $200 million annually.  To note – the Education Trust Fund has a $469 million dollar debt owed to the Oil and Gas Trust Fund that must be paid back by 2015. Any excess tax revenue by law is earmarked to go there. But, what if the term on the debt could be reworked to be paid by 2018?  By extending the term you could still pay the debt in full in 6 years instead of 3 and reinvest the excess tax dollars over and beyond the debt service back into education. 

Pour a glass of this idea tomorrow at the water cooler and tell me how it goes down.

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