In the near future, I will be introducing legislation to create the
Pennsylvania Education Endowment Fund (EEF)—a bold, fiscally responsible, and forward-looking solution to
permanently eliminate school property taxes across the Commonwealth.
Why This Matters
For decades, Pennsylvanians have demanded relief from the crushing burden of school property taxes, especially seniors, working families, and homeowners on fixed incomes. Previous proposals to eliminate these taxes have either relied on politically unworkable tax swaps or failed to provide a sustainable funding source for public education.
A New Path Forward
This legislation charts a different course. The bill establishes the
Pennsylvania Education Endowment Fund, a
self-sustaining, constitutionally protected trust fund that will generate long-term investment income to replace property tax revenue. Rather than relying on broad-based tax increases, the fund will be seeded through a mix of
one-time state asset sales, expanded natural gas leasing on public lands, public-private partnerships, a share of gambling revenue, and a state bond issuance repaid through investment returns.
The fund will be professionally managed with strict oversight and transparency, and as it grows, its investment returns will be used to
gradually reduce and then fully eliminate school property taxes statewide.
Key Highlights
- No new taxes on income, sales, or businesses
- Protects seniors and homeowners while ensuring our public schools receive stable, adequate funding
- Modeled after successful endowments used by universities and sovereign wealth funds
- Includes constitutional and statutory safeguards to prevent misuse of funds
Once fully capitalized, the fund will generate over
$16 billion annually, enabling the complete and permanent repeal of school property taxes, without compromising the quality of education.
I believe this is the best opportunity we've had to
deliver meaningful, permanent tax relief while strengthening our commitment to public education.
I respectfully invite you to join me as a co-sponsor of this transformative legislation