needy families program established under part A of title IV of the Social Security Act ( 42 U.S.C. 601 et seq. ), and struggling to provide for their own families. (6) Studies have demonstrated that well-qualified, experienced teachers are the single most important school-based element contributing to a child’s academic achievement and success. (7) In the 2021–2022 academic year, the average teacher salary in public elementary schools and secondary schools was only $66,397, a 2 percent increase from the previous academic year. When adjusted for inflation, the average teacher salary has declined by 6.4 percent over the past decade. (8) On average, public elementary school and secondary school teachers were paid 23.5 percent less than other college graduates working in non-teaching fields, and many teachers struggle with large amounts of student loan debt. (9) In 2021, the average teacher salary for a first-year teacher in a public elementary school or secondary school was $41,770. (10) An experienced, well-qualified education workforce must also be reflective of the diversity of the student body across race, ethnicity, and disability. (11) Higher pay for teachers can result in a more diverse teacher workforce, and minority students often perform better on standardized tests, have improved attendance, and are suspended less frequently when they have at least one same-race teacher. (12) Experienced, well-qualified school leaders and school-based mental health service providers are essential for providing strong educational opportunities and services for students and promoting teacher retention through improved professional supports and teaching conditions. (13) Between February 2020 and May 2022, at least 300,000 teachers at public elementary schools and secondary schools left the field, a nearly 3 percent decline in the teacher workforce. 4. Refundable tax credit for teacher and school leader retention (a) In general Subpart C of part IV of subchapter A of chapter 1 of subtitle A of the Internal Revenue Code of