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According to Sen. Charles E. Schumer, $1.7billion can be raised for New York public schools by taxing millionaires just one percent more. This will avert the present trend of teacher layoffs. The debate for school spending was on for the fiscal year starting October 1st in the Senate where Mr. Schumer pushed for more funding.

Following the vote in a week’s time, the proposal will be debated upon. The fact is that the action of the Senate on the proposal could just be a political exercise as any suggestion on increasing taxes have always been dead on arrival in the House.

This time however, the Democrats seem to be strong on this issue with public opinion on their side. A recent poll suggests that most Americans are for enhancing taxes on the wealthy to balance budget which will in turn help avert cuts on domestic and higher education programs.

Republicans on the other hand opine that taxing the wealthy further will only result in a slower economic recovery as they have already been taxed to a fair amount. Mr. Schumer however asserted that the high end earners must definitely do their fair share as they are the only ones who did very well in the last decade.

According to the proposal Senate will consider, a 0.5 percent tax will be levied on those who earn more than a million dollars a year. The fund thus collected will directly be used for betterment of schools.

Specifically, funds will be used to target problem areas such as staffing and not on aspects such as construction, he said. He also said that rebuilding schools is being considered in separate legislation.

Both these measures if we notice are a part of the job creation package suggested by our President Barack Obama. They however could not be passed as a single bill as they did not generate enough votes.

In New York school districts especially, layoffs have been intensified and widespread. Only this year, about 7500 teachers have been axed according to a labor union New York State United Teachers that represents teachers.

Staffs have been reduced in several districts in Jefferson County. So far, at least 29 teachers are laid off in Watertown and 23 in Thousand Islands schools according to a NYSUT report. School budgets in New York are being squeezed by the new two percent property tax increase cap that seeks to address a long term challenge. The fact that this cap is placing a burden on schools was acknowledged by Mr. Schumer.

Most of the problems faced by schools are a direct result of a reduction in funding in certain respects. Reduced funding was in turn due to Obama administration’s last economic stimulus money influx.

If the Senate proposal helps with more funding for schools, some of the funds will be given directly to schools and not through Albany. Taking into account the income level of the community and the school-aged populations, a formula will be followed for distribution of aid to schools as with the stimulus.