Oklahoma lawmakers reach deal on education funding

KOSU | By KOSU News

Published May 15, 2023 at 4:23 PM CDT

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Kriea Arie

This is a developing story.

Oklahoma lawmakers gathered for a press conference Monday afternoon to announce an agreement on education funding.

Here is what we know so far:

What is in the deal agreement?

A $625 million recurring total investment into public education

$500 million into education funding formula - includes six-week paid maternity leave

Teacher pay raises of $3,000-$6,000 depending on experience

$10 million for a three-year literacy program

$125 million towards Redbud Fund to largely benefit rural schools

$150 million for a three-year pilot program from school safety and security.

What about school vouchers?

Private and home school parents will get tax credits to help pay for private school tuition or other educational needs. This is part of a separate, controversial bill that awaits the governor's signature.

The tax credit thresholds are as follows:

$7,500 per student in households earning under $75,000 annually

$7,000 per student in households earning between $75,000-$100,000 annually

$6,500 per student in households earning between $150,000-$225,000 annually

$6,000 per student in households earning between $225,000-$250,000 annually

$5,000 per student in households earning over $250,000 annually

We will have more on this story as it develops.