Latest news with #Phillis
Yahoo
28-02-2025
- Business
- Yahoo
Ohio bill would create savings accounts for students attending private religious schools
COLUMBUS, Ohio (WCMH) — A Senate bill would distribute public funds to families wanting to attend private religious schools that currently do not qualify for Ohio's voucher program. Senate Bill 68 would establish the Nonchartered Educational Savings Account Program, a government-funded initiative for families attending nonpublic, noncharter (NPNC) schools. Proponents say it will empower families to get equal access to schooling, and opponents say S.B. 68 is a legislative overreach that would divert funds from public schools. NPNC schools are schools that have not sought a state charter designation, typically for religious reasons. In doing so, these schools do not have to subscribe to state operating standards but are also not eligible for Ohio's voucher system. Ohio State cuts diversity offices, programming Ohio offers five vouchers or state-sponsored scholarships for students to attend private or charter schools. These initially were geared toward students who could not afford private school, but the program expanded in 2023 to allow any student, regardless of income, to receive at least a partial scholarship. See previous coverage of Ohio's vouchers in the video player above. Sponsored by Sen. Mark Romanchuk (R-Ontario), S.B. 68 would have the state treasurer establish an educational savings account for each participating NPNC student. These accounts could then be used to cover educational costs such as tuition or supplies. The program would begin in the 2026-2027 school year, and the funds would be equal to the state's average base cost per pupil, with families above 450% of the federal poverty guidelines receiving adjusted amounts. 'The best way to achieve the outcome that we all want, which are students who are flourishing and succeeding, is to put the parents in charge that education opportunity. They know what's best, and they're going to align their kid into the classroom, into that teacher environment that's going to best meet that student's needs,' Donovan O'Neil, director of Americans for Prosperity in Ohio, said. O'Neil testified at S.B. 68's second hearing, which took place Feb. 25, and believes the legislation would even the educational playing field in Ohio. The oldest of nine, O'Neil said he and his siblings had different educational paths based on what worked for them, so school choice has always been involved when he thinks of education. Not everyone is convinced. William Phillis, executive director for the Ohio Coalition for Equity and Adequacy of School Funding, said S.B. 68 would be another way to divert public funds to private, religious schools. Phillis is behind the Vouchers Hurt Ohio lawsuit challenging the constitutionality of Ohio's voucher programs. Marijuana, transportation bills move forward at Statehouse 'These schools that didn't want to have any state regulations agreed not to take any state money,' Phillis said. 'But now this clever device to give money to parents, and then they can give the money to the nonchartered, nonpublic schools, the totally unregulated schools.' Phillis also said S.B. 68 continues a trend in Ohio by giving public money to private religious institutions, specifically schools. The 100 schools with the highest voucher enrollment last year were all religiously affiliated. In October, a national advocacy group launched an investigation into the state, claiming its one-time payments to private Christian school renovations were unconstitutional. O'Neil said it wasn't about taxpayer dollars funding religion, it was about giving parents a choice. He said as long as the state is seeing better outcomes, it's worth spending money on. hillis said voucher students often perform worse than their public school counterparts. Ohio data shows voucher students historically performed much worse, but 2023-2024 test scores evened out, with voucher students performing 0.1% higher. Both those for and against S.B. 68 believe it is important the state properly funds education. For Phillis, that means using public money to adequately fund public schools. He pointed to the nearly $1 billion Ohio spent on private school vouchers last year, most of which went to students who did not have demonstrated financial need. O'Neil believes that means distributing funds to parents to use how they see fit. Phillis also said NCNP schools have a lack of accountability. He said these private schools would not held accountable for properly spending state funds that same way public schools are. There are several guidelines in place in S.B. 68 to protect state funds, but the bill allows NCNP schools to maintain their autonomy from the state. Vivek Ramaswamy's nonprofit is barely known, but it makes big claims 'As a put in the public sector, every dime that a public body spends is audited the state auditor,' Phillis said. 'Now, who audits the private schools? … Who audits the voucher money? Not the state auditor. Who audits Columbus City Schools? The state auditor. Why? Because it's public money. Public money ought to be audited.' O'Neil agreed it is important to be careful stewards of public dollars. However, as Ohio is already going to allocate significant funding toward K-12 education, he reiterated that it is important to allow parents to have a direct say in how their tax dollars are spent. 'As long as the state is involved in education, as it has a constitutional obligation to do so, what we should be doing and encourage legislators to do is fund programs that empower families,' O'Neil said. S.B. 68 is requesting $51 million to cover the costs, but its fiscal analysis acknowledges the actual cost would be driven by demand, which is difficult to anticipate. The Senate estimates there are 10,000 students between these 124 schools, with around 80 students per school. Using this estimate, NCNP schools make up just 0.5% of Ohio's K-12 enrollment. The fiscal analysis notes that S.B. 68 could divert funds from public schools, which receive state funding in part based on enrollment. 'What's unique about the nonchartered, nonpublic schools is they're oftentimes very, I would say, a lot smaller than your chartered or traditional public schools. And so they're able to provide a more customized, focused education,' O'Neil said. Phillis argued instead that these smaller schools contribute to separation. He said paying students to attend small, private institutions along religious and ideological lines would contribute to larger division in Ohio. S.B. 68 will continue in the Senate Finance committee, which does not have any meetings scheduled for next week as of publication. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
20-02-2025
- Business
- Yahoo
5 New Ways to Make Passive Income Now That Trump Is in Office
Business owners and side hustlers have many options for generating passive income. President Donald Trump's second term is already creating tailwinds for some passive income streams and present people with compelling long-term opportunities. Learn More: Read Next: However, some passive income streams are better than others. Even though you can receive 'passive' income, it takes a good amount of work and skills to turn an income stream into a passive one. These are some of the passive income streams you may want to explore. Chad Phillis is the founder and CEO of Checkmate Rentals, an Airbnb rental management partner that helps people with their short-term rentals. He guides property owners and investors in achieving sustainable income and recommends short-term rentals as a passive income source. For You: 'Managed with an emphasis on dynamic pricing and great guest experiences, short-term rentals have the potential to turn underutilized properties into reliable sources of income,' Phillis said. 'For instance, several investors have seen a surge in occupancy rates and profitability, even in times of general market uncertainty, by adapting their strategy to sites like VRBO and Airbnb.' The amount you can earn depends on your property's size, location and other factors. President Trump has been a staunch advocate for lower interest rates, and the Department of Government Efficiency can play a role if the Federal Reserve doesn't budge. Lower interest rates can create more demand for mortgages and boost real estate prices. You don't have to own 5 Cities You Need To Consider If You're Retiring in 2025 to make money from 9 Things the Middle Class Should Consider Downsizing To Save on Monthly Expenses. Phillis shared how Here's the Minimum Salary Required To Be Considered Upper Class in 2025 investment trusts can serve as viable alternatives and present an easier path to entry. 'How Far $750K Plus Social Security Goes in Retirement in Every US Region investment trusts (REITs) allow investors to diversify their 12 SUVs With the Most Reliable Engines holdings without taking on the day-to-day management tasks. As a balancing element in a diverse investment portfolio, they usually provide consistent dividend distributions and the chance for capital gain.' Many REITs are publicly traded on the stock market. They tend to have high yields and are very liquid. You can buy shares of a REIT and proceed to sell them the next day. REITs are more flexible than owning real estate, and they also benefit from lower interest rates. If you're already investing in REITs, consider dividends and ETFs. These passive income sources are similar and also trade on the stock market. Phillis explained that these investments can generate passive income. 'Many investors' strategies revolve around dividend-paying stocks and ETFs because they provide regular income distributions and have the potential for long-term capital development,' Phillis said. 'For example, in addition to income from more dynamic endeavors like real estate investments, a well-structured dividend stock portfolio may provide a steady source of income.' Investors can analyze dividend stocks based on their financial growth rates, yield, and growth. Dividend income investors focus on high yields and low volatility, while dividend growth investors take lower yields in exchange for higher potential 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years. Low interest rates help dividend stocks and ETFs, but President Trump's emphasis on deregulation can also gives these investments a boost. Peer-to-peer lending is a non-traditional path to passive income that can provide steady 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth. Phillis explained how it works. 'Investors may now lend directly to borrowers via peer-to-peer lending platforms, a novel and nontraditional way to generate passive income,' Phillis said. 'The How Much Money Is Needed To Be Considered Middle Class in Every State? on these loans might even exceed those on savings or bonds. To diversify their revenue streams, these platforms may access parts of the financial market that traditional investors choose to ignore.' Investors have been paying more attention to alternative investments like cryptocurrencies ever since Trump won the election. Peer-to-peer lending may receive a similar boost. You don't have to buy real estate and stocks to generate passive income. Affiliate marketing is another avenue to consider. This passive income source involves getting people to click your links and buy products after clicking those links. It can take some time to set up passive income from affiliate marketing. You must create a website, grow an email list and apply marketing strategies to get noticed. However, the passive income from this opportunity can quickly snowball and turn into a full-time income. Loans may have lower interest rates under President Trump, which can make it easier to afford startup costs and hire workers. More From GOBankingRates This article originally appeared on 5 New Ways to Make Passive Income Now That Trump Is in Office Sign in to access your portfolio
