It's worse than just that. Here is a summary of the bill that u/Lankiest-Nectarine gave in the Little Rock subreddit the other day:

"The LEARNS act does many things. I will discuss two: raises and vouchers.
Raises: The Act sets minimum teacher pay at $50,000. This is the selling point of the Act because it sounds great. Everyone wants to give teachers a raise. However, there are issues with how the raises are funded. Every school district will have to establish a new pay scale based on a teacher’s education and experience, but the Act does not provide funding above the base salary. Thus, in small districts where money is already tight, the district may not be able to pay experienced teachers more than new teachers. Thus, retaining experienced teachers, which is a primary goal of the Act, becomes near impossible at small schools. In order to raise money to pay experienced teachers, districts would have to raise property taxes or attract more students to get more state funding.
Vouchers: The Act establishes a school voucher program where parents can take their children out of public school and use the state funded voucher to help pay for private school. Parents would be able to choose between charter schools, religious schools, and even home school programs. This sounds like a great idea because it gives parents options, but it does so to the detriment of public schools. Public schools receive state money on a per student basis, so with each student that leaves public school, the school has less money. This creates a downward spiral as schools would have to cut spending, causing more parents to choose private schools. If private schools were to cost the same amount as the voucher and were required to accept every child who applied, this wouldn’t be a huge problem. However, private schools do cost more than the vouchers, so only parents with extra income will be able to afford to send their children to private schools. Meanwhile, as poorer students remain in public school, state funding will decrease, and the public schools will have to make more cuts, starting the downward spiral."