You don't know WTF you are talking about
https://nces.ed.gov/programs/coe/indicator_cma.asp
https://nces.ed.gov/programs/coe/indicator_cmb.asp
$12,509 per public school student enrolled
All K-12 schools get the same Federal stipend.
A large part of school revenue paid by the states and also raised by property taxes paid by homeowners to their local school district whose board members (or Regents) are elected by the voters in that district. If there is any inequality it is at the state and local level.
Generally speaking, people that live in better areas pay more property taxes to have better schools for their community.
Whither you live in a battle zone inner city area or a wealthier suburban community, you get an equalized stipend from the federal government -- and not proportionate to any federal taxes that you pay. The USA version of egalitarianism is not the social state theory of Europe and will never be that way -- get used to it.
I am not so sure that spending more money is the answer but government supported higher education for persons that QUALIFY on a merit basis would be a worthy thing to do however the money has to come from somewhere -- and we are talking a lot of money.
These tax cuts are not intended to further any social benefit.
Most of this proposal is a non-starter in the congress and part of Trump's 100 days of do nothing.