As part of the One Big Beautiful Bill Act passed in July 2025, the federal government created a nationwide tax credit for donations to scholarship-granting organizations that fund K–12 educational expenses. A recent Common Sense Institute report claims the program will produce major economic and educational benefits for Colorado. But those projected benefits are unlikely to materialize. Participation in similar scholarship programs has historically fallen far below the report’s projections, the economic model leaves key questions unanswered, and assumptions about increased private school enrollment lack supporting evidence. The report also overlooks growing warning signs from tax-credit scholarship programs in states such as neighboring Arizona. Overall, its value in supporting an evidence-based policy debate is negligible.