Governor’s proposal would empower families, Chairman Mike McCurry says
(Wednesday, January 21st, 2015, New York) —The Children’s Scholarship Fund (CSF), the largest K-8 scholarship program in New York State, today applauded Governor Andrew Cuomo’s inclusion of the Education Investment Tax Credit (EITC) in his 2015-16 Executive Budget, and the State Senate for passing EITC legislation on a bipartisan vote.
The EITC would be a win-win for education in New York. It would use the tax code to generate millions of dollars in new charitable donations to help school children and teachers, including non-profit entities that provide educational programming and organizations that provide scholarships to children from low-income and working families.
“We are very grateful for the actions of Governor Cuomo and the State Senate today and urge both houses of the Legislature to pass the Education Investment Tax Credit as part of the state budget so more children have the opportunity to get a better education,” said Mike McCurry, CSF chairman and former press secretary to President Bill Clinton and Senator Daniel Patrick Moynihan.
“As we have seen from the successes of CSF alumni, access to private and parochial schools through scholarships can be a game-changer for young people’s futures. This tax credit will empower more low-income and working families to choose the schools that best meet their children’s needs and put them on the path to success,” McCurry said.
About the Education Investment Tax Credit: The EITC would generate millions in additional donations to both non-profit scholarship funds and public schools by making these charitable donations eligible for a credit on state taxes instead of a tax deduction (for which they are already eligible). The EITC would expand educational opportunities for low- and middle-income students and also provide needed funding for public school programs often subject to budget cuts. The EITC bill has wide bipartisan support in the state Legislature and support from a historic and diverse coalition of more than 100 civic and community organizations, business groups, religious leaders, organized labor and others. For more information, visit www.investined.org.
About Children’s Scholarship Fund: Founded in 1998 by John Walton and Ted Forstmann, CSF provides partial scholarships to low-income families so their children can attend the private K-8 schools that best meet their needs, regardless of their ability to pay or where they live. Since its inception, CSF and its partner programs have awarded scholarships worth $610 million to 145,000 children nationwide, including more than 26,000 New York City students. This school year, more than 8,300 students are using CSF New York scholarships at 211 private schools throughout the city. In addition, our Buffalo partner, BISON Children’s Scholarship Fund, is serving 1,800 children this year. For more information, visit www.scholarshipfund.org.
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Contact: Elizabeth Toomey
etoomey@scholarshipfund.org/(212) 515-7134