This study calculates the fiscal impact of every existing voucher and tax-credit scholarship program, in order to bring empirical evidence to bear on the debate over the fiscal impact of school choice. Of the 18 voucher and tax credit scholarship programs in the United States, twelve began operations before the current school year and their fiscal impact can thus be assessed. We did not include school choice programs in Iowa, Illinois or Minnesota that provide personal tax credits or deductions for private school tuition, since assessing their impact would be prohibitively difficult.

Key findings include: School choice programs have saved a total of about $444 million from 1990 to 2006, including a total of $22 million saved in state budgets and $422 million saved in local public school districts.
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