A recent study by the U.S. General Accounting Office (GAO) found that years of underfunding through 1994 had left investment in U.S. public schools short by $126 billion. To better understand the GAO finding, the authors estimated capital stocks in U.S. public schools; they then projected future capital stocks and infrastructure deficiencies. They use this framework to interpret two federal public school construction financing options: tax credit bonds, promoted by the Clinton administration, and expanding “arbitrage” earnings possibilities for those state and local governments that issue school bonds, promoted by many Republicans in Congress.
All Science Journal Classification (ASJC) codes
- Business, Management and Accounting (miscellaneous)
- Sociology and Political Science
- Public Administration