(Taken from a press release from Gov. Gary Locke’s office that appeared at press time.)>
Gov. Gary Locke, state House Speaker Frank Chopp and Senate Minority Leader Lisa Brown have proposed a dedicated trust fund that will provide new funding to stabilize and strengthen Washington public schools, colleges and universities now and in the years to come.
With legislative approval, the Washington Education Trust Fund will be funded by a menu of possible revenue sources being examined by the governor and Democratic legislative leadership. Details will be part of the state budget proposal coming soon from the House of Representatives.
The trust is intended to grow in size and to expand its funding targets in future years — funding that will not supplant basic and higher education dollars already provided to Washington citizens.
“For our kids and grandkids, we must act now on this top priority,” Locke said. “Education is the key to the future of our state, and this trust fund would provide a down payment on stable, consistent investments in education. Such stable funding is especially important during tough economic times.”
The Washington Education Trust Fund will be dedicated to education improvements that go beyond “basic” education programs required by the state Constitution. The trust fund will provide a mechanism to target resources for long-term investments in education. Over time, the goal is to have the trust fund pay for:
• Early learning
• Reduced class sizes in public schools
• Help for struggling students and low-performing schools to meet state academic standards
• Teacher compensation improvements, beyond base pay and COLAs, with additional salary increases linked to teacher growth in knowledge, skill and professional responsibility
• Improved access to higher education and job training by expanding enrollment at state colleges and universities
• Recruitment and retention of the best college faculty and early-childhood educators
• Expanded financial aid programs, so more families can afford college
New revenue sources that the Legislature or voters determine to be necessary to meet the state’s goals for education improvement will flow to the dedicated education trust and be used only for education.
