According to a survey released today by the Economic Policy Institute, voluntary, high quality pre-K programs for 3 and 4 year old children would have a tremendous economic impact on Texas. The survey estimates a return of $8 for every $1 spent. Compensation for students who participate in a pre-K program are estimated to be $42 billion higher in Texas alone.
Below is a press release from the Center for Public Policy Priorities that discusses the survey results.
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July 11, 2007
NATIONAL STUDY: PRE-K INVESTMENT IN TEXAS COULD SAVE BILLIONS
Austin, TX—According to new state data released by the national Economic Policy Institute, Texas could save billions of public dollars over the upcoming decades by immediately investing in pre-kindergarten programs. In Texas, high-quality pre-K programs would begin paying for themselves within eight years, according to a state-level analysis of the Enriching Children, Enriching the Nation study.
According to Texas data, investment in universal pre-K in Texas would generate $75.9 billion in total benefits by 2050. A more targeted pre-K program, which would focus on vulnerable populations, would yield $37.8 billion in total benefits.
In the 2007 Texas legislative session, the Legislative Budget Board proposed cutting $20 million from pre-K services. Though the funding was ultimately restored, pre-K funding in Texas is at risk.
“This new data underscore the importance of investing in pre-K programs in Texas,” said Don Baylor, Senior Policy Analyst at the Center for Public Policy Priorities. “By delaying investment, Texas is forfeiting generous returns for our society and our future workforce.”
According to the data, children who participate in high-quality pre-K programs perform better in school, earn higher salaries when they enter the workforce, and engage in less criminal activity. Not only that, but high-quality early childhood education would ultimately reduce costs for criminal justice, child welfare, and remedial and special education, and increase income earned and taxes paid.
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The Center for Public Policy Priorities is an Austin-based nonprofit, nonpartisan policy research organization committed to improving conditions for low-and moderate-income Texans.
The Economic Policy Institute is a national nonprofit, nonpartisan think tank that seeks to broaden the public debate about strategies to achieve a prosperous and fair economy.
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