Here’s How a Harris Win Could Impact Teachers and Education Funding

In a recent show of support, the National Education Association (NEA) endorsed Vice President Kamala Harris in the upcoming presidential election, expressing gratitude for the Biden administration’s commitment to educators. Harris has championed efforts to increase funding for education in the past, particularly in early childhood education, so if she assumes the presidency when the time comes, what sort of impact might she have?

Check Out: I’m an Economist — Here’s My Prediction for Social Security If Kamala Harris Wins the Election

Read Next: 9 Things You Must Do To Grow Your Wealth in 2024

GOBankingRates spoke with Ayeh Bandeh-Ahmadi — economist, ex-US Treasury Debt Manager and founder of Volascope Labs — to get her predictions on how a Harris-Walz administration could impact teachers and education funding, particularly given a challenging financial and political landscape.

Learn More: Trump Wants To Eliminate Income Taxes – Here’s What That Would Mean for the Economy and Your Wallet

Teacher Tax Credits and Pay Raises

One of the key ways Harris could support educators is by expanding the Educator Expense Deduction, which currently allows teachers to deduct up to $300 for classroom-related expenses. Given rising costs, especially in today’s economic environment, teachers often spend out of their own pocket to top up the $300 and provide essential supplies for their students.

Beyond direct tax deductions, Harris could also push for teacher retention bonuses to address high turnover rates, particularly in underserved areas. “Economic research I and others have done suggest retention bonuses could be most effective when tied to the length of time individuals stay in the profession,” Bandeh-Ahmadi said.

Additionally, Harris has been a vocal advocate for increasing teacher salaries, particularly in underfunded schools. During her 2020 presidential campaign, according to EducationWeek, she proposed a $13,500 annual salary increase for teachers in struggling districts to make the profession more attractive to younger talent. The proposed pay raise was to be funded by reversing parts of the Trump tax cuts, showing how salary reforms could be tied to broader tax policy adjustments.

Bridging the Digital Divide

Harris has a history of advocating for digital learning and STEM education, having “co-sponsored the 21st Century STEM for Girls and Underrepresented Minorities Act, which sought to increase STEM education for women and minorities, as well as the Digital Equity Act of 2019, which sought to bring broadband to underserved communities,” said Bandeh-Ahmadi, who believes a Harris-Walz administration would bring tech and education closer together.

She envisions Harris advocating for initiatives similar to those in Estonia and Finland, “for basic coding becoming a more established cornerstone of K-12 curricula.” She believes Harris’ administration would likely also prioritize workforce development programs, apprenticeships and entrepreneurship, particularly in tech-forward industries, ensuring that students — especially from underrepresented groups — are equipped for the evolving job market.

Investment in School Infrastructure

Under a Harris presidency, significant attention would likely be given to school modernization, particularly in underserved and rural areas. Harris has previously advocated for upgrading school facilities to ensure that every student has access to high-quality educational environments.

As part of this vision, Bandeh-Ahmadi can imagine Harris establishing a School Modernization Fund aimed at improving infrastructure — including installing high-speed broadband in rural and low-income schools, “ensuring schools are equipped with the technology students need to succeed in a “modern workforce.”

This proposal could find bipartisan support, as many rural areas, often represented by Republicans, face similar issues with underfunded and outdated school infrastructure. “Communicating this story effectively, and perhaps packaging it into a larger infrastructure bill or as a narrow initiative focused on rural and low-income districts could increase its likelihood of success in a divided Congress,” Bandeh-Ahmadi said.

Green School Initiatives

“As a long-time advocate of programs addressing climate change, especially where they also address systemic inequalities, Harris could advocate for upgrading school building energy efficiency,” Bandeh-Ahmadi said, “reducing operational costs and bringing renewable energy into schools, which could create learning opportunities for students in STEM fields.”

By linking these projects to broader climate change goals, Harris would provide students with hands-on experience in emerging fields such as renewable energy and energy-efficient technologies. However, this type of initiative could face more resistance in Congress, and would be less likely in a Republican Trump-Vance administration, with its focus on limited government and fiscal conservatism.

Nevertheless, Harris’ commitment to tackling climate change through educational reform could pave the way for innovative learning environments that prepare students for the future.

Treasury Support for Municipal Bonds

Bandeh-Ahmadi suggests that a Treasury-backed municipal bond program could be feasible in the current economic climate. “The Treasury Department has provided support for municipal bonds during COVID and following the 2008 financial crisis when it subsidized municipal Build America Bonds with bipartisan support,” she said.

With interest rates at a 23-year high, it’s not particularly easy or cheap for local governments to borrow money to fund essential school upgrades and education-related infrastructure. A municipal bond program would help, despite high interest rates. Bandeh-Ahmadi added that Harris could win bipartisan support by framing this as part of a broader infrastructure and competitiveness initiative aimed at supporting local economies.

An Economist’s Final Thought

“I hope the next four years are a time when we modernize economic education together with technology upgrades,” Bandeh-Ahmadi said, “because a better handle of economic shifts would help us have smarter debates and policies, regardless of the administration, and empower teachers and students with the knowledge to navigate a changing world when it comes to education and beyond.”

Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused financial stories. You can find more coverage of this topic on GOBankingRates.com.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: I’m an Economist: Here’s How a Harris Win Could Impact Teachers and Education Funding