In a survey published by Scioto Analysis this morning, 26 of 30 Ohio economists agreed that a more equitable state school funding formula would substantially reduce inequality in the state of Ohio in the coming decades.
While the majority of respondents agreed a more equitable funding formula would substantially reduce inequality, a number of economists stated that the degree of the impact would be contingent on broader investments and smart use of funds.
Of the four economists who did not agree with the statement, three agreed more equitable school funding would reduce inequality, but were uncertain whether that reduction would be substantial, explaining that other factors will also be important in reducing inequality.
Last month, the Ohio House of Representatives passed a bipartisan bill to reform school funding in the state. The Ohio Senate has declined to take up the bill this year, but components of the bill will likely be a factor in budget negotiations next year. Advocates say House Bill 305 will make the state school funding formula more equitable.
The Ohio Economic Experts Panel is a panel of over 40 Ohio Economists from over 30 Ohio higher educational institutions conducted by Scioto Analysis. The goal of the Ohio Economic Experts Panel is to promote better policy outcomes by providing policymakers, policy influencers, and the public with the informed opinions of Ohio’s leading economists.
If you would like to suggest a question for a future Ohio Economic Experts Panel, email your ideas to panel@sciotoanalysis.com.