Cushion for higher ed proposed: Idaho lawmakers say accounts for colleges, universities should be established to reduce pain of tight budget years
Think of this as Social Security for Idaho’s colleges. We all know how well the Social Security Ponzi scheme works. Now we’ll do the same for Higher Ed.
The following article ran in the Lewiston Tribune.
In the midst of famine, two Idaho lawmakers are imagining a feast.
Sen. Joe Stegner, R-Lewiston, and Rep. Scott Bedke, R-Oakley, will propose legislation this session to create a higher education savings account, similar to what's already in place for public schools. The funds would be used to shelter Idaho's colleges and universities from future budget cuts.
The lawmakers say very little money could be put into the account initially, given the state's current budget constraints. However, they're imagining a time when general fund revenues start to improve. They want to establish the account now, so it's ready when times get better.