No. The Educational Freedom Act merely introduces competition into K-12 education just as it exists in higher education, medicine, professional schools, technology and retail. As Americans, we understand that competition makes everyone and everything better. If the number and quality of public schools decline it will only be because they failed to compete, failed to meet the needs of their customers and failed to improve the quality of their product. The most likely effect of the introduction of real school choice will be a radical improvement in the performance of existing public schools.
Recent financial impact studies shows that after 7% of the students exit from public schools there is likely to be more funding per-student available.