In phasing out Indiana's voucher program, which directs public funds toward student scholarships for private school attendance, Owens' plan estimates a $160 million estimated return of investment in public education.

Students already enrolled in the state's voucher program and their siblings would be allowed to continue receiving voucher support through the candidate's proposed multi-year phase out period.

Though, a complete end to the Indiana Choice Scholarship program, supported by some legislators and private school educators, is unlikely to gain the approval of the state's Republican-controlled legislature. More than 36,000 Hoosier students in 329 participating schools were enrolled in the state's voucher program last year, according to Indiana Department of Education data.

Owens also proposes to support placing a $300 million cap on the state's rainy day fund, directing excess state surplus into a public education endowment to be used for teachers and classroom expenses. The candidate will back legislation allowing for regular investment in the proposed endowment, which Owens expects will allow for $120 million new investment in public education annually.